Westinghouse Air Brake Technologies Corporation (WAB) Stake Decreased by Patten & Patten Inc. TN

Patten & Patten Inc. TN decreased its stake in shares of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,820 shares of the transportation company’s stock after selling 190 shares during the period. Patten & Patten Inc. TN’s holdings in Westinghouse Air Brake Technologies Corporation were worth $533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tredje AP fonden bought a new position in shares of Westinghouse Air Brake Technologies Corporation during the first quarter valued at about $183,000. Buffington Mohr McNeal boosted its stake in shares of Westinghouse Air Brake Technologies Corporation by 34.3% in the first quarter. Buffington Mohr McNeal now owns 9,980 shares of the transportation company’s stock valued at $778,000 after buying an additional 2,550 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Westinghouse Air Brake Technologies Corporation by 40.2% in the first quarter. SG Americas Securities LLC now owns 36,995 shares of the transportation company’s stock valued at $2,886,000 after buying an additional 10,607 shares in the last quarter. Karp Capital Management Corp acquired a new stake in shares of Westinghouse Air Brake Technologies Corporation during the first quarter valued at $2,928,000. Finally, Symphony Asset Management LLC boosted its stake in shares of Westinghouse Air Brake Technologies Corporation by 24.7% in the first quarter. Symphony Asset Management LLC now owns 39,319 shares of the transportation company’s stock valued at $3,066,000 after buying an additional 7,791 shares in the last quarter.

Shares of Westinghouse Air Brake Technologies Corporation (NYSE WAB) traded down 0.75% during trading on Friday, hitting $75.05. 1,201,520 shares of the stock traded hands. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 24.29 and a beta of 1.07. Westinghouse Air Brake Technologies Corporation has a 12 month low of $67.94 and a 12 month high of $93.81. The company has a 50 day moving average price of $87.81 and a 200 day moving average price of $83.47.

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) last issued its earnings results on Tuesday, July 25th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by $0.14. The firm had revenue of $932.25 million during the quarter, compared to analysts’ expectations of $1 billion. Westinghouse Air Brake Technologies Corporation had a return on equity of 13.38% and a net margin of 8.10%. The firm’s quarterly revenue was up 28.8% on a year-over-year basis. During the same period last year, the firm posted $1.00 earnings per share. Analysts anticipate that Westinghouse Air Brake Technologies Corporation will post $3.63 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Monday, August 14th will be issued a dividend of $0.12 per share. This is a boost from Westinghouse Air Brake Technologies Corporation’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Thursday, August 10th. Westinghouse Air Brake Technologies Corporation’s dividend payout ratio is currently 14.04%.

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Several brokerages recently weighed in on WAB. Buckingham Research began coverage on shares of Westinghouse Air Brake Technologies Corporation in a research note on Wednesday, June 21st. They issued a “buy” rating and a $104.00 price objective on the stock. Edward Jones cut shares of Westinghouse Air Brake Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. FBR & Co reduced their price objective on shares of Westinghouse Air Brake Technologies Corporation from $100.00 to $85.00 and set a “market perform” rating on the stock in a research note on Wednesday. Wellington Shields raised shares of Westinghouse Air Brake Technologies Corporation from a “hold” rating to a “gradually accumulate” rating in a research report on Friday, April 7th. Finally, BidaskClub raised shares of Westinghouse Air Brake Technologies Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $92.63.

In other Westinghouse Air Brake Technologies Corporation news, Director Brian Hehir sold 2,234 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $80.11, for a total transaction of $178,965.74. Following the completion of the sale, the director now directly owns 24,905 shares of the company’s stock, valued at $1,995,139.55. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 11.69% of the stock is currently owned by corporate insiders.

Westinghouse Air Brake Technologies Corporation Company Profile

Westinghouse Air Brake Technologies Corporation (Wabtec), doing business as Wabtec Corporation, is a provider of technology-based equipment and services for the global freight and transit rail industries. The Company’s segments include the Freight Segment and the Transit Segment. The Freight Segment primarily manufactures and services components for new and existing freight cars and locomotives, builds new switcher locomotives, rebuilds freight locomotives, supplies railway electronics, positive train control equipment, signal design and engineering services, and provides related heat exchange and cooling systems.