Harvest Fund Management Co. Ltd Boosts Stock Position in Westinghouse Air Brake Technologies Co. (NYSE:WAB)

Harvest Fund Management Co. Ltd grew its stake in shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) by 10.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,820 shares of the transportation company’s stock after acquiring an additional 172 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Westinghouse Air Brake Technologies were worth $331,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WAB. Pinnacle Bancorp Inc. increased its holdings in shares of Westinghouse Air Brake Technologies by 55.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock worth $28,000 after buying an additional 55 shares during the last quarter. Eastern Bank bought a new position in shares of Westinghouse Air Brake Technologies during the 3rd quarter valued at about $33,000. Massmutual Trust Co. FSB ADV increased its position in shares of Westinghouse Air Brake Technologies by 26.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the transportation company’s stock valued at $90,000 after purchasing an additional 118 shares during the last quarter. Camden National Bank purchased a new position in shares of Westinghouse Air Brake Technologies during the 3rd quarter valued at about $222,000. Finally, Bridges Investment Management Inc. bought a new stake in Westinghouse Air Brake Technologies in the 2nd quarter worth approximately $360,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on WAB shares. Stephens increased their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Susquehanna boosted their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a research report on Monday, October 21st. KeyCorp raised their target price on 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. Finally, The Goldman Sachs Group upped their price target on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.30.

Westinghouse Air Brake Technologies Stock Up 1.2 %

Shares of NYSE:WAB opened at $201.71 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.65 and a current ratio of 1.30. Westinghouse Air Brake Technologies Co. has a 52-week low of $114.45 and a 52-week high of $202.84. The firm has a market capitalization of $34.67 billion, a P/E ratio of 33.62, a P/E/G ratio of 1.44 and a beta of 1.27. The stock has a 50 day moving average price of $188.63 and a 200-day moving average price of $171.90.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.13. Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the prior year, the company earned $1.70 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Westinghouse Air Brake Technologies Co. will post 7.61 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Wednesday, November 13th. Westinghouse Air Brake Technologies’s payout ratio is currently 13.33%.

Insiders Place Their Bets

In other news, VP David L. Deninno sold 875 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $188.70, for a total value of $165,112.50. Following the sale, the vice president now directly owns 55,352 shares of the company’s stock, valued at approximately $10,444,922.40. This represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Albert J. Neupaver sold 35,722 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $188.70, for a total value of $6,740,741.40. Following the transaction, the director now owns 614,447 shares of the company’s stock, valued at $115,946,148.90. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,393 shares of company stock worth $9,350,243. 1.10% of the stock is currently owned by company insiders.

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.