Equitable Trust Co. Sells 7,080 Shares of Carlisle Companies Incorporated $CSL

Key Points

• Equitable Trust Co. significantly reduced its stake in Carlisle Companies by 82.2%, selling 7,080 shares and now holding 1,534 shares worth $573,000.
• Carlisle Companies reported earnings per share of $6.27 for the last quarter, missing estimates of $6.67, and had a revenue of $1.45 billion, slightly below the expected $1.50 billion.
• The company announced an increase in its quarterly dividend to $1.10 per share, up from $1.00, reflecting a positive shift in shareholder returns.

Equitable Trust Co. cut its holdings in Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 82.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,534 shares of the conglomerate's stock after selling 7,080 shares during the period. Equitable Trust Co.'s holdings in Carlisle Companies were worth $573,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its stake in Carlisle Companies by 35.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,459 shares of the conglomerate's stock worth $3,902,000 after purchasing an additional 2,976 shares during the last quarter. Spire Wealth Management lifted its stake in Carlisle Companies by 2.8% in the first quarter. Spire Wealth Management now owns 1,960 shares of the conglomerate's stock worth $667,000 after purchasing an additional 54 shares during the last quarter. CX Institutional bought a new stake in Carlisle Companies in the first quarter worth $49,000. GAMMA Investing LLC lifted its stake in Carlisle Companies by 12.4% in the first quarter. GAMMA Investing LLC now owns 1,489 shares of the conglomerate's stock worth $507,000 after purchasing an additional 164 shares during the last quarter. Finally, Strs Ohio bought a new stake in Carlisle Companies in the first quarter worth $17,025,000. 89.52% of the stock is owned by institutional investors.

Carlisle Companies Price Performance

Shares of CSL opened at $330.91 on Thursday. The stock has a market cap of $14.15 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 1.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.19. Carlisle Companies Incorporated has a fifty-two week low of $311.41 and a fifty-two week high of $474.73. The firm's 50-day simple moving average is $359.85 and its two-hundred day simple moving average is $371.86.

Carlisle Companies (NYSE:CSL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The conglomerate reported $6.27 earnings per share for the quarter, missing analysts' consensus estimates of $6.67 by ($0.40). The business had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.50 billion. Carlisle Companies had a return on equity of 38.16% and a net margin of 16.12%.Carlisle Companies's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company posted $6.24 EPS. Analysts anticipate that Carlisle Companies Incorporated will post 22.31 earnings per share for the current fiscal year.

Carlisle Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.10 per share. The ex-dividend date was Tuesday, August 19th. This is a positive change from Carlisle Companies's previous quarterly dividend of $1.00. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.3%. Carlisle Companies's dividend payout ratio is currently 24.58%.

Wall Street Analysts Forecast Growth

CSL has been the subject of several recent research reports. Robert W. Baird lowered their price target on shares of Carlisle Companies from $440.00 to $385.00 and set an "outperform" rating for the company in a research note on Monday. Loop Capital lowered shares of Carlisle Companies from a "buy" rating to a "hold" rating and dropped their target price for the stock from $430.00 to $395.00 in a report on Thursday, July 31st. JPMorgan Chase & Co. dropped their target price on shares of Carlisle Companies from $480.00 to $410.00 and set an "overweight" rating for the company in a report on Wednesday, September 17th. Weiss Ratings reiterated a "hold (c)" rating on shares of Carlisle Companies in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group dropped their target price on shares of Carlisle Companies from $444.00 to $385.00 and set a "buy" rating for the company in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $403.33.

About Carlisle Companies

Carlisle Companies Incorporated operates as a manufacturer and supplier of building envelope products and solutions in the United States, Europe, North America, Asia and the Middle East, Africa, and internationally. It operates through two segments: Carlisle Construction Materials and Carlisle Weatherproofing Technologies.

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