Westinghouse Air Brake Technologies Co. (NYSE:WAB) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co trimmed its position in Westinghouse Air Brake Technologies Co. (NYSE:WAB) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,384 shares of the transportation company’s stock after selling 2,891 shares during the quarter. Westinghouse Air Brake Technologies comprises 1.0% of WASHINGTON TRUST Co’s investment portfolio, making the stock its 22nd biggest position. WASHINGTON TRUST Co owned 0.08% of Westinghouse Air Brake Technologies worth $26,805,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in WAB. Erste Asset Management GmbH acquired a new position in Westinghouse Air Brake Technologies in the third quarter valued at about $61,474,000. BNP Paribas Financial Markets lifted its holdings in shares of Westinghouse Air Brake Technologies by 5.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 278,729 shares of the transportation company’s stock worth $50,665,000 after acquiring an additional 13,683 shares during the last quarter. Border to Coast Pensions Partnership Ltd boosted its position in shares of Westinghouse Air Brake Technologies by 4.5% during the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 201,011 shares of the transportation company’s stock worth $36,431,000 after purchasing an additional 8,575 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Westinghouse Air Brake Technologies during the 3rd quarter worth approximately $24,630,000. Finally, Forsta AP Fonden increased its holdings in Westinghouse Air Brake Technologies by 4.3% in the 3rd quarter. Forsta AP Fonden now owns 50,600 shares of the transportation company’s stock valued at $9,198,000 after purchasing an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on WAB. The Goldman Sachs Group raised their price target on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Susquehanna raised their target price on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a report on Monday, October 21st. KeyCorp boosted their price target on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Bank of America raised their price objective on shares of Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Finally, Stephens reiterated an “overweight” rating and set a $220.00 target price on shares of Westinghouse Air Brake Technologies in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $190.38.

Westinghouse Air Brake Technologies Stock Performance

Shares of WAB stock opened at $188.14 on Friday. Westinghouse Air Brake Technologies Co. has a 52-week low of $132.77 and a 52-week high of $210.88. The stock’s 50-day moving average price is $198.65 and its 200 day moving average price is $186.28. The company has a quick ratio of 0.65, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $32.34 billion, a PE ratio of 31.36, a price-to-earnings-growth ratio of 1.33 and a beta of 1.27.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings results on Wednesday, February 12th. The transportation company reported $1.68 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.06). Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. As a group, equities research analysts forecast that Westinghouse Air Brake Technologies Co. will post 7.6 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a $0.25 dividend. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. Westinghouse Air Brake Technologies’s payout ratio is presently 13.33%.

Westinghouse Air Brake Technologies 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.