Eastern Bank Invests $33,000 in Westinghouse Air Brake Technologies Co. (NYSE:WAB)

Eastern Bank purchased a new position in Westinghouse Air Brake Technologies Co. (NYSE:WAB) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 181 shares of the transportation company’s stock, valued at approximately $33,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of WAB. BNP Paribas Financial Markets raised its stake in Westinghouse Air Brake Technologies by 107.8% in the first quarter. BNP Paribas Financial Markets now owns 170,248 shares of the transportation company’s stock valued at $24,802,000 after purchasing an additional 88,325 shares in the last quarter. Forsta AP Fonden raised its stake in Westinghouse Air Brake Technologies by 64.5% in the first quarter. Forsta AP Fonden now owns 53,300 shares of the transportation company’s stock valued at $7,765,000 after purchasing an additional 20,900 shares in the last quarter. Plato Investment Management Ltd raised its stake in Westinghouse Air Brake Technologies by 59,168.4% in the first quarter. Plato Investment Management Ltd now owns 11,261 shares of the transportation company’s stock valued at $1,641,000 after purchasing an additional 11,242 shares in the last quarter. Border to Coast Pensions Partnership Ltd raised its stake in Westinghouse Air Brake Technologies by 4.5% in the third quarter. Border to Coast Pensions Partnership Ltd now owns 201,011 shares of the transportation company’s stock valued at $36,431,000 after purchasing an additional 8,575 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Westinghouse Air Brake Technologies by 2.1% in the second quarter. Rhumbline Advisers now owns 335,483 shares of the transportation company’s stock valued at $53,023,000 after purchasing an additional 7,012 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WAB has been the topic of several research reports. Bank of America lifted their price target on shares of Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. The Goldman Sachs Group lifted their price target on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday. Stephens lifted their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Susquehanna lifted their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Westinghouse Air Brake Technologies has an average rating of “Moderate Buy” and a consensus target price of $171.80.

Westinghouse Air Brake Technologies Stock Down 0.2 %

Shares of Westinghouse Air Brake Technologies stock opened at $188.76 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 1.38. Westinghouse Air Brake Technologies Co. has a 52-week low of $102.67 and a 52-week high of $192.48. The stock has a market capitalization of $33.29 billion, a price-to-earnings ratio of 36.87, a P/E/G ratio of 1.50 and a beta of 1.27. The company’s 50 day moving average price is $175.94 and its 200-day moving average price is $165.94.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.13. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Westinghouse Air Brake Technologies had a net margin of 9.94% and a return on equity of 12.05%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.70 earnings per share. Equities research analysts forecast that Westinghouse Air Brake Technologies Co. will post 7.47 EPS for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date is Wednesday, November 13th. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is currently 15.63%.

Insider Activity at Westinghouse Air Brake Technologies

In related news, EVP Nicole B. Theophilus sold 4,801 shares of Westinghouse Air Brake Technologies stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $154.64, for a total value of $742,426.64. Following the sale, the executive vice president now owns 15,608 shares in the company, valued at $2,413,621.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CTO Eric Gebhardt sold 7,422 shares of Westinghouse Air Brake Technologies stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $156.32, for a total value of $1,160,207.04. Following the sale, the chief technology officer now owns 22,411 shares in the company, valued at $3,503,287.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nicole B. Theophilus sold 4,801 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $154.64, for a total transaction of $742,426.64. Following the completion of the sale, the executive vice president now directly owns 15,608 shares in the company, valued at $2,413,621.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,392 shares of company stock worth $2,754,390 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Westinghouse Air Brake Technologies Company Profile

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.