Shares of Westinghouse Air Brake Technologies Corp (NYSE:WAB) fell 12.4% during trading on Friday . The stock traded as low as $96.56 and last traded at $98.21. 6,582,509 shares changed hands during trading, an increase of 707% from the average session volume of 815,360 shares. The stock had previously closed at $112.12.

Several research firms recently commented on WAB. B. Riley set a $95.00 price target on shares of Westinghouse Air Brake Technologies and gave the stock a “hold” rating in a report on Tuesday, July 24th. KeyCorp restated an “overweight” rating and set a $113.00 price target (up from $105.00) on shares of Westinghouse Air Brake Technologies in a report on Wednesday, July 25th. Stifel Nicolaus raised their price target on shares of Westinghouse Air Brake Technologies from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Cowen restated a “buy” rating and set a $125.00 price target on shares of Westinghouse Air Brake Technologies in a report on Tuesday, July 24th. Finally, Zacks Investment Research upgraded shares of Westinghouse Air Brake Technologies from a “hold” rating to a “strong-buy” rating and set a $119.00 price target for the company in a report on Monday, July 16th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $104.77.

The stock has a market cap of $10.87 billion, a price-to-earnings ratio of 28.63, a P/E/G ratio of 1.94 and a beta of 0.94. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.99 and a current ratio of 1.52.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings data on Tuesday, July 24th. The transportation company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.02. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.02 billion. Westinghouse Air Brake Technologies had a net margin of 6.88% and a return on equity of 12.40%. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 earnings per share. equities analysts predict that Westinghouse Air Brake Technologies Corp will post 3.89 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 24th. Investors of record on Friday, August 10th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Thursday, August 9th. Westinghouse Air Brake Technologies’s payout ratio is presently 13.99%.

In related news, CFO Patrick D. Dugan sold 21,280 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $109.54, for a total transaction of $2,331,011.20. Following the transaction, the chief financial officer now owns 76,555 shares of the company’s stock, valued at $8,385,834.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO John A. Mastalerz, Jr. sold 3,238 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $109.64, for a total transaction of $355,014.32. Following the transaction, the chief accounting officer now directly owns 14,090 shares in the company, valued at approximately $1,544,827.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 207,208 shares of company stock worth $22,743,371. Insiders own 11.49% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Westinghouse Air Brake Technologies by 1.9% in the first quarter. BlackRock Inc. now owns 7,944,769 shares of the transportation company’s stock valued at $646,705,000 after purchasing an additional 145,135 shares during the period. Baillie Gifford & Co. raised its position in shares of Westinghouse Air Brake Technologies by 1.0% in the first quarter. Baillie Gifford & Co. now owns 4,691,207 shares of the transportation company’s stock valued at $381,864,000 after purchasing an additional 47,026 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Westinghouse Air Brake Technologies by 2.0% in the first quarter. PNC Financial Services Group Inc. now owns 529,201 shares of the transportation company’s stock valued at $43,078,000 after purchasing an additional 10,165 shares during the period. Blair William & Co. IL increased its position in Westinghouse Air Brake Technologies by 1.2% during the first quarter. Blair William & Co. IL now owns 521,687 shares of the transportation company’s stock worth $42,465,000 after acquiring an additional 6,294 shares during the period. Finally, Hsbc Holdings PLC increased its position in Westinghouse Air Brake Technologies by 6.0% during the first quarter. Hsbc Holdings PLC now owns 482,425 shares of the transportation company’s stock worth $39,346,000 after acquiring an additional 27,252 shares during the period.

About Westinghouse Air Brake Technologies (NYSE:WAB)

Westinghouse Air Brake Technologies Corporation, doing business as Wabtec Corporation, provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. It operates in two segments, Freight and Transit. The Freight segment manufactures and services components for new and existing locomotive and freight cars; supplies railway electronics and positive train control equipment; offers signal design and engineering services; builds switcher locomotives; rebuilds freight locomotives; and provides heat exchangers and cooling systems for rail and other industrial markets.

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