JPMorgan Chase & Co. Lowers Holdings in Carlisle Companies Incorporated (NYSE:CSL)

Key Points

• JPMorgan Chase & Co. has reduced its stake in Carlisle Companies by 4.9%, selling 55,492 shares and now owning approximately 2.50% of the company, worth $367.6 million.
• Carlisle Companies reported earnings per share of $6.27 for the last quarter, missing analyst estimates and reflecting a decrease in revenue compared to the previous year.
• The company has announced a quarterly dividend increase from $1.00 to $1.10, representing a new annualized dividend of $4.40 with a dividend yield of 1.1%.

JPMorgan Chase & Co. reduced its stake in shares of Carlisle Companies Incorporated (NYSE:CSL - Free Report) by 4.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,079,462 shares of the conglomerate's stock after selling 55,492 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.50% of Carlisle Companies worth $367,557,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. CX Institutional purchased a new stake in shares of Carlisle Companies during the 1st quarter worth $49,000. GeoWealth Management LLC lifted its stake in shares of Carlisle Companies by 25.0% during the 4th quarter. GeoWealth Management LLC now owns 145 shares of the conglomerate's stock worth $53,000 after purchasing an additional 29 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Carlisle Companies during the 1st quarter worth $55,000. Allworth Financial LP lifted its stake in shares of Carlisle Companies by 32.8% during the 1st quarter. Allworth Financial LP now owns 170 shares of the conglomerate's stock worth $58,000 after purchasing an additional 42 shares during the last quarter. Finally, Harbour Investments Inc. lifted its stake in shares of Carlisle Companies by 277.1% during the 1st quarter. Harbour Investments Inc. now owns 181 shares of the conglomerate's stock worth $62,000 after purchasing an additional 133 shares during the last quarter. 89.52% of the stock is currently owned by hedge funds and other institutional investors.

Carlisle Companies Trading Up 5.1%

Carlisle Companies stock opened at $384.94 on Wednesday. The stock has a 50-day moving average of $385.59 and a two-hundred day moving average of $369.11. 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 one year low of $311.41 and a one year high of $481.26. The stock has a market cap of $16.46 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 1.15 and a beta of 1.05.

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 firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.50 billion. Carlisle Companies had a net margin of 16.12% and a return on equity of 38.16%. The firm's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $6.24 earnings per share. On average, research analysts anticipate that Carlisle Companies Incorporated will post 22.31 EPS for the current fiscal year.

Carlisle Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be issued a $1.10 dividend. This is a boost 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 1.1%. The ex-dividend date of this dividend is Tuesday, August 19th. Carlisle Companies's dividend payout ratio is currently 22.35%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CSL shares. Truist Financial decreased their price objective on Carlisle Companies from $420.00 to $390.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. Loop Capital cut Carlisle Companies from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $430.00 to $395.00 in a research note on Thursday, July 31st. Wall Street Zen upgraded Carlisle Companies from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. started coverage on Carlisle Companies in a research note on Tuesday, June 24th. They issued an "overweight" rating and a $500.00 price target for the company. Finally, Robert W. Baird increased their price target on Carlisle Companies from $455.00 to $460.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Carlisle Companies currently has a consensus rating of "Moderate Buy" and a consensus price target of $450.83.

Carlisle Companies Company Profile

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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