JPMorgan Chase & Co. Sells 397,669 Shares of Carlisle Companies Incorporated $CSL

JPMorgan Chase & Co. reduced its holdings in Carlisle Companies Incorporated (NYSE:CSL) by 27.7% during the third quarter, Holdings Channel.com reports. The fund owned 1,040,034 shares of the conglomerate’s stock after selling 397,669 shares during the quarter. JPMorgan Chase & Co.’s holdings in Carlisle Companies were worth $342,130,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Goldman Sachs Group Inc. grew its holdings in shares of Carlisle Companies by 36.9% during the first quarter. Goldman Sachs Group Inc. now owns 105,468 shares of the conglomerate’s stock worth $35,912,000 after purchasing an additional 28,414 shares in the last quarter. Harbour Investments Inc. raised its stake in Carlisle Companies by 170.7% in the second quarter. Harbour Investments Inc. now owns 490 shares of the conglomerate’s stock valued at $183,000 after purchasing an additional 309 shares in the last quarter. Ethic Inc. lifted its position in Carlisle Companies by 3.0% during the second quarter. Ethic Inc. now owns 4,473 shares of the conglomerate’s stock valued at $1,674,000 after purchasing an additional 132 shares during the last quarter. Tributary Capital Management LLC grew its stake in Carlisle Companies by 3.9% in the 2nd quarter. Tributary Capital Management LLC now owns 3,614 shares of the conglomerate’s stock worth $1,349,000 after buying an additional 135 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its stake in Carlisle Companies by 132.4% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 2,924 shares of the conglomerate’s stock worth $1,092,000 after buying an additional 1,666 shares in the last quarter. Hedge funds and other institutional investors own 89.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on CSL shares. Weiss Ratings restated a “hold (c)” rating on shares of Carlisle Companies in a research report on Monday, December 29th. William Blair assumed coverage on Carlisle Companies in a research note on Friday, January 30th. They issued a “market perform” rating on the stock. Robert W. Baird set a $420.00 price target on Carlisle Companies in a research note on Wednesday, February 4th. JPMorgan Chase & Co. cut their price objective on Carlisle Companies from $410.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Finally, Truist Financial reduced their price objective on Carlisle Companies from $350.00 to $340.00 and set a “hold” rating on the stock in a research report on Thursday, October 30th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $392.50.

Carlisle Companies Stock Performance

Carlisle Companies stock opened at $407.62 on Friday. The firm has a fifty day simple moving average of $356.98 and a two-hundred day simple moving average of $347.81. The company has a quick ratio of 2.62, a current ratio of 3.09 and a debt-to-equity ratio of 1.60. Carlisle Companies Incorporated has a twelve month low of $293.43 and a twelve month high of $435.92. The company has a market capitalization of $16.66 billion, a PE ratio of 23.82, a P/E/G ratio of 1.29 and a beta of 0.94.

Carlisle Companies (NYSE:CSL) last released its quarterly earnings data on Tuesday, February 3rd. The conglomerate reported $3.90 EPS for the quarter, topping the consensus estimate of $3.60 by $0.30. Carlisle Companies had a return on equity of 41.58% and a net margin of 14.76%.The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the business earned $4.47 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. Research analysts expect that Carlisle Companies Incorporated will post 22.31 EPS for the current year.

Carlisle Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be given a $1.10 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $4.40 annualized dividend and a yield of 1.1%. Carlisle Companies’s payout ratio is presently 25.72%.

Insider Buying and Selling

In related news, insider Stephen Schwar sold 6,049 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $417.36, for a total transaction of $2,524,610.64. Following the completion of the sale, the insider directly owned 8,540 shares in the company, valued at $3,564,254.40. This represents a 41.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin P. Zdimal sold 24,180 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $408.04, for a total transaction of $9,866,407.20. Following the sale, the chief financial officer directly owned 30,094 shares of the company’s stock, valued at $12,279,555.76. The trade was a 44.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 68,289 shares of company stock worth $28,125,467. 1.50% of the stock is owned by company insiders.

Carlisle Companies Company Profile

Carlisle Companies Inc is a diversified global manufacturer serving a broad array of markets with engineered products, systems and solutions. The company’s operations span several core business segments, including construction materials, fluid technologies, interconnect technologies, brake and friction systems, and engineered products. Carlisle is known for its expertise in developing high-performance building envelope solutions, precision-engineered hoses and fluid-handling components, lightweight interconnect systems for aerospace and defense, and heavy-duty brake and friction products.

Within its construction materials segment, Carlisle offers single-ply roofing membranes, polyiso insulation, and waterproofing systems designed for commercial and industrial buildings.