Appleton Partners Inc. MA Sells 2,647 Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB)

Appleton Partners Inc. MA lowered its position in Westinghouse Air Brake Technologies Co. (NYSE:WAB) by 18.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 11,604 shares of the transportation company’s stock after selling 2,647 shares during the period. Appleton Partners Inc. MA’s holdings in Westinghouse Air Brake Technologies were worth $1,273,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. DNB Asset Management AS lifted its position in Westinghouse Air Brake Technologies by 5.3% during the second quarter. DNB Asset Management AS now owns 63,969 shares of the transportation company’s stock valued at $7,015,000 after purchasing an additional 3,233 shares during the last quarter. First Hawaiian Bank bought a new stake in shares of Westinghouse Air Brake Technologies during the 2nd quarter worth $263,000. DnB Asset Management AS grew its position in Westinghouse Air Brake Technologies by 5.3% in the second quarter. DnB Asset Management AS now owns 63,969 shares of the transportation company’s stock worth $7,015,000 after acquiring an additional 3,233 shares in the last quarter. Border to Coast Pensions Partnership Ltd increased its stake in Westinghouse Air Brake Technologies by 20.2% in the first quarter. Border to Coast Pensions Partnership Ltd now owns 199,289 shares of the transportation company’s stock valued at $20,140,000 after acquiring an additional 33,500 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its position in Westinghouse Air Brake Technologies by 13.8% during the first quarter. State of Tennessee Treasury Department now owns 115,233 shares of the transportation company’s stock valued at $11,645,000 after purchasing an additional 13,949 shares in the last quarter. Hedge funds and other institutional investors own 90.52% of the company’s stock.

Westinghouse Air Brake Technologies Trading Down 0.3 %

Shares of NYSE WAB opened at $107.69 on Friday. The stock has a market cap of $19.29 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 1.39 and a beta of 1.51. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.12 and a quick ratio of 0.56. Westinghouse Air Brake Technologies Co. has a 1 year low of $79.33 and a 1 year high of $119.70. The firm has a 50-day moving average of $112.50 and a 200 day moving average of $104.35.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.08. Westinghouse Air Brake Technologies had a return on equity of 9.33% and a net margin of 7.54%. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the business posted $1.23 EPS. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, sell-side analysts expect that Westinghouse Air Brake Technologies Co. will post 5.68 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 28th. Shareholders of record on Monday, August 14th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.68 annualized dividend and a yield of 0.63%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is presently 18.23%.

Insider Transactions at Westinghouse Air Brake Technologies

In related news, insider Alicia Hammersmith sold 2,378 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $113.86, for a total value of $270,759.08. Following the completion of the transaction, the insider now directly owns 766 shares in the company, valued at approximately $87,216.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Alicia Hammersmith sold 2,378 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $113.86, for a total transaction of $270,759.08. Following the completion of the transaction, the insider now directly owns 766 shares of the company’s stock, valued at $87,216.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Albert J. Neupaver sold 12,295 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $118.26, for a total value of $1,454,006.70. Following the completion of the transaction, the director now owns 595,412 shares in the company, valued at $70,413,423.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 132,033 shares of company stock worth $15,625,594. Corporate insiders own 1.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on WAB shares. Wells Fargo & Company increased their price objective on Westinghouse Air Brake Technologies from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. TD Cowen cut Westinghouse Air Brake Technologies from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $114.00 to $125.00 in a report on Friday, July 28th. Stephens boosted their target price on Westinghouse Air Brake Technologies from $120.00 to $135.00 in a research note on Friday, July 28th. StockNews.com started coverage on shares of Westinghouse Air Brake Technologies in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, KeyCorp upped their price objective on shares of Westinghouse Air Brake Technologies from $112.00 to $133.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Four equities research 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 presently has an average rating of “Moderate Buy” and a consensus target price of $125.71.

About Westinghouse Air Brake Technologies

Westinghouse Air Brake Technologies Corporation provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. The company operates in two segments, Freight and Transit. The Freight segment manufactures and services components for freight cars and locomotives; builds, rebuilds, upgrades, and overhauls locomotives; supplies railway electronics, positive train control equipment, and signal design and engineering services; services locomotives and freight cars; and provides heat exchange and cooling systems, and components and digital solutions.