Raiffeisen Bank International AG Makes New $1.22 Million Investment in Westinghouse Air Brake Technologies Co. (NYSE:WAB)

Raiffeisen Bank International AG purchased a new position in Westinghouse Air Brake Technologies Co. (NYSE:WAB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,393 shares of the transportation company’s stock, valued at approximately $1,221,000.

Several other institutional investors have also added to or reduced their stakes in the business. KLP Kapitalforvaltning AS purchased a new stake in shares of Westinghouse Air Brake Technologies during the fourth quarter valued at approximately $22,509,000. AGF Management Ltd. purchased a new stake in Westinghouse Air Brake Technologies during the 4th quarter valued at $10,566,000. DnB Asset Management AS grew its holdings in Westinghouse Air Brake Technologies by 0.9% in the 4th quarter. DnB Asset Management AS now owns 48,101 shares of the transportation company’s stock worth $9,119,000 after acquiring an additional 414 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Westinghouse Air Brake Technologies by 88.8% during the fourth quarter. Pacer Advisors Inc. now owns 31,811 shares of the transportation company’s stock valued at $6,031,000 after acquiring an additional 14,959 shares during the last quarter. Finally, Cibc World Markets Corp boosted its holdings in shares of Westinghouse Air Brake Technologies by 14.4% during the fourth quarter. Cibc World Markets Corp now owns 27,266 shares of the transportation company’s stock worth $5,169,000 after purchasing an additional 3,441 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Pascal Schweitzer sold 4,000 shares of the stock in a transaction on Friday, April 25th. The stock was sold at an average price of $184.63, for a total transaction of $738,520.00. Following the sale, the insider now directly owns 11,955 shares of the company’s stock, valued at $2,207,251.65. This trade represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Rafael Santana sold 886 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $182.34, for a total value of $161,553.24. Following the completion of the transaction, the chief executive officer now directly owns 176,295 shares of the company’s stock, valued at approximately $32,145,630.30. This trade represents a 0.50% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,024 shares of company stock valued at $17,263,784. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. StockNews.com upgraded Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. raised their target price on shares of Westinghouse Air Brake Technologies from $175.00 to $194.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Susquehanna lowered their price objective on shares of Westinghouse Air Brake Technologies from $218.00 to $210.00 and set a “positive” rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group reiterated a “neutral” rating and set a $201.00 target price (up previously from $175.00) on shares of Westinghouse Air Brake Technologies in a report on Wednesday, April 23rd. Finally, Stephens restated an “overweight” rating and issued a $220.00 target price on shares of Westinghouse Air Brake Technologies in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $211.83.

Westinghouse Air Brake Technologies Price Performance

Shares of WAB opened at $205.76 on Friday. The firm’s 50-day simple moving average is $181.95 and its two-hundred day simple moving average is $190.83. Westinghouse Air Brake Technologies Co. has a fifty-two week low of $147.66 and a fifty-two week high of $210.88. The stock has a market cap of $35.21 billion, a PE ratio of 34.12, a price-to-earnings-growth ratio of 1.50 and a beta of 1.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.69 and a current ratio of 1.30.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.25. Westinghouse Air Brake Technologies had a return on equity of 12.78% and a net margin of 10.17%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts anticipate that Westinghouse Air Brake Technologies Co. will post 8.54 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.49%. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 15.67%.

About Westinghouse Air Brake Technologies

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.