Westinghouse Air Brake Technologies (NYSE:WAB) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Westinghouse Air Brake Technologies (NYSE:WAB) in a research note issued to investors on Thursday, Marketbeat reports. The firm issued a neutral rating and a $175.00 target price on the transportation company’s stock.

Other equities analysts also recently issued research reports about the stock. Stephens reissued 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. StockNews.com lowered Westinghouse Air Brake Technologies from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, Bank of America upped their target price on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $201.86.

Westinghouse Air Brake Technologies Stock Performance

Shares of NYSE:WAB opened at $168.80 on Thursday. The business has a 50-day moving average of $183.97 and a two-hundred day moving average of $190.92. The firm has a market capitalization of $28.86 billion, a PE ratio of 27.99, a P/E/G ratio of 1.50 and a beta of 1.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.69. Westinghouse Air Brake Technologies has a 12 month low of $143.22 and a 12 month high of $210.88.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its earnings results on Wednesday, February 12th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.06). Westinghouse Air Brake Technologies had a return on equity of 12.78% and a net margin of 10.17%. As a group, research analysts forecast that Westinghouse Air Brake Technologies will post 8.54 earnings per share for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were issued a $0.25 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.59%. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 16.58%.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In related news, CEO Rafael Santana sold 886 shares of Westinghouse Air Brake Technologies stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $182.34, for a total value of $161,553.24. Following the completion of the sale, the chief executive officer now owns 176,295 shares in the company, valued at approximately $32,145,630.30. The trade was a 0.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WAB. Lord Abbett & CO. LLC acquired a new stake in Westinghouse Air Brake Technologies during the third quarter valued at approximately $24,630,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Westinghouse Air Brake Technologies during the 4th quarter valued at approximately $22,509,000. AGF Management Ltd. bought a new position in Westinghouse Air Brake Technologies during the fourth quarter worth $10,566,000. Twin Tree Management LP boosted its holdings in Westinghouse Air Brake Technologies by 108.8% in the fourth quarter. Twin Tree Management LP now owns 2,960 shares of the transportation company’s stock worth $561,000 after purchasing an additional 36,435 shares during the period. Finally, Longbow Finance SA bought a new stake in Westinghouse Air Brake Technologies during the fourth quarter valued at $4,312,000. 91.69% of the stock is owned by institutional investors and hedge funds.

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.