Westinghouse Air Brake Technologies Co. (NYSE:WAB) Announces Quarterly Dividend of $0.20

Westinghouse Air Brake Technologies Co. (NYSE:WAB) declared a quarterly dividend on Thursday, October 17th, RTT News reports. Stockholders of record on Wednesday, November 13th will be given a dividend of 0.20 per share by the transportation company on Wednesday, November 27th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%.

Westinghouse Air Brake Technologies has raised its dividend by an average of 12.3% per year over the last three years. Westinghouse Air Brake Technologies has a dividend payout ratio of 9.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Westinghouse Air Brake Technologies to earn $8.32 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 9.6%.

Westinghouse Air Brake Technologies Trading Up 0.1 %

WAB traded up $0.22 during midday trading on Thursday, reaching $189.99. 674,073 shares of the company were exchanged, compared to its average volume of 1,086,235. The stock has a market capitalization of $33.28 billion, a P/E ratio of 33.33, a PEG ratio of 1.57 and a beta of 1.27. Westinghouse Air Brake Technologies has a one year low of $98.70 and a one year high of $191.00. The stock’s 50-day simple moving average is $171.33 and its 200 day simple moving average is $163.90. 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 (NYSE:WAB) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.08. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.64 billion. Westinghouse Air Brake Technologies had a net margin of 9.94% and a return on equity of 12.05%. Westinghouse Air Brake Technologies’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.41 EPS. As a group, analysts forecast that Westinghouse Air Brake Technologies will post 7.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Bank of America raised their price objective on 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. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.90.

Insiders Place Their Bets

In other news, insider Alicia Hammersmith sold 4,169 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $165.54, for a total value of $690,136.26. Following the sale, the insider now directly owns 5,606 shares in the company, valued at $928,017.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Alicia Hammersmith sold 4,169 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $165.54, for a total value of $690,136.26. Following the sale, the insider now owns 5,606 shares of the company’s stock, valued at $928,017.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Eric Gebhardt sold 7,422 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $156.32, for a total transaction of $1,160,207.04. Following the completion of the transaction, the chief technology officer now directly owns 22,411 shares of the company’s stock, valued at approximately $3,503,287.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,392 shares of company stock worth $2,754,390. 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.