Pitcairn Co. Decreases Stake in Hewlett Packard Enterprise (NYSE:HPE)

Pitcairn Co. reduced its holdings in Hewlett Packard Enterprise (NYSE:HPE) by 32.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,118 shares of the technology company’s stock after selling 16,035 shares during the period. Pitcairn Co.’s holdings in Hewlett Packard Enterprise were worth $605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of HPE. Wellington Management Group LLP lifted its stake in shares of Hewlett Packard Enterprise by 51.9% in the third quarter. Wellington Management Group LLP now owns 87,085 shares of the technology company’s stock worth $1,513,000 after buying an additional 29,737 shares in the last quarter. Raymond James Trust N.A. raised its stake in Hewlett Packard Enterprise by 10.1% during the fourth quarter. Raymond James Trust N.A. now owns 12,070 shares of the technology company’s stock worth $205,000 after purchasing an additional 1,107 shares during the period. Brookstone Capital Management raised its stake in Hewlett Packard Enterprise by 8.1% during the fourth quarter. Brookstone Capital Management now owns 18,994 shares of the technology company’s stock worth $323,000 after purchasing an additional 1,418 shares during the period. SG Americas Securities LLC purchased a new position in Hewlett Packard Enterprise during the fourth quarter worth about $512,000. Finally, Mutual Advisors LLC raised its stake in Hewlett Packard Enterprise by 14.1% during the fourth quarter. Mutual Advisors LLC now owns 42,101 shares of the technology company’s stock worth $715,000 after purchasing an additional 5,215 shares during the period. 80.78% of the stock is owned by hedge funds and other institutional investors.

Hewlett Packard Enterprise Trading Down 2.9 %

Shares of HPE stock opened at $19.46 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.59 and a current ratio of 0.90. The stock has a market capitalization of $25.29 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 2.90 and a beta of 1.19. The company has a 50 day moving average price of $20.15 and a 200 day moving average price of $17.83. Hewlett Packard Enterprise has a fifty-two week low of $14.47 and a fifty-two week high of $22.82.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings data on Tuesday, June 4th. The technology company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The firm had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $6.82 billion. Hewlett Packard Enterprise had a net margin of 6.38% and a return on equity of 8.49%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. Equities research analysts predict that Hewlett Packard Enterprise will post 1.59 EPS for the current fiscal year.

Hewlett Packard Enterprise Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, June 19th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend was Tuesday, June 18th. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is currently 37.96%.

Insider Activity at Hewlett Packard Enterprise

In related news, CEO Gerri Gold sold 22,784 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $21.67, for a total value of $493,729.28. Following the completion of the transaction, the chief executive officer now owns 57,081 shares in the company, valued at $1,236,945.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Hewlett Packard Enterprise news, CEO Gerri Gold sold 22,784 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $21.67, for a total transaction of $493,729.28. Following the completion of the transaction, the chief executive officer now owns 57,081 shares in the company, valued at approximately $1,236,945.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary M. Reiner sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $19.51, for a total transaction of $975,500.00. Following the transaction, the director now owns 150,948 shares of the company’s stock, valued at approximately $2,944,995.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,141 shares of company stock worth $2,850,108. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

HPE has been the topic of a number of analyst reports. Argus raised shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Friday, June 7th. UBS Group lifted their target price on shares of Hewlett Packard Enterprise from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 5th. Wells Fargo & Company lifted their target price on shares of Hewlett Packard Enterprise from $19.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $21.00 target price on shares of Hewlett Packard Enterprise in a research note on Thursday, June 20th. Finally, Stifel Nicolaus lifted their price target on shares of Hewlett Packard Enterprise from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.08.

Hewlett Packard Enterprise Profile

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.