Redwood Investment Management LLC Buys New Shares in Hewlett Packard Enterprise (NYSE:HPE)

Redwood Investment Management LLC purchased a new position in Hewlett Packard Enterprise (NYSE:HPE) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 99,356 shares of the technology company’s stock, valued at approximately $2,003,000.

Several other hedge funds have also bought and sold shares of HPE. Cetera Investment Advisers grew its holdings in Hewlett Packard Enterprise by 455.7% during the 1st quarter. Cetera Investment Advisers now owns 121,204 shares of the technology company’s stock valued at $2,149,000 after purchasing an additional 99,394 shares during the last quarter. Cetera Advisors LLC lifted its position in Hewlett Packard Enterprise by 39.8% during the first quarter. Cetera Advisors LLC now owns 55,388 shares of the technology company’s stock valued at $982,000 after acquiring an additional 15,774 shares during the last quarter. GAMMA Investing LLC lifted its position in Hewlett Packard Enterprise by 16.9% during the second quarter. GAMMA Investing LLC now owns 5,421 shares of the technology company’s stock valued at $115,000 after acquiring an additional 783 shares during the last quarter. Mather Group LLC. increased its stake in Hewlett Packard Enterprise by 24.6% during the 2nd quarter. Mather Group LLC. now owns 8,374 shares of the technology company’s stock valued at $177,000 after purchasing an additional 1,653 shares in the last quarter. Finally, CWM LLC increased its stake in Hewlett Packard Enterprise by 41.9% during the 2nd quarter. CWM LLC now owns 61,979 shares of the technology company’s stock valued at $1,312,000 after purchasing an additional 18,308 shares in the last quarter. Hedge funds and other institutional investors own 80.78% of the company’s stock.

Hewlett Packard Enterprise Price Performance

Shares of Hewlett Packard Enterprise stock opened at $21.63 on Friday. The company’s 50-day moving average price is $20.83 and its two-hundred day moving average price is $19.85. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36. The stock has a market cap of $28.09 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 3.33 and a beta of 1.21. Hewlett Packard Enterprise has a 52 week low of $14.47 and a 52 week high of $22.82.

Hewlett Packard Enterprise (NYSE:HPE) last issued its earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.67 billion. Hewlett Packard Enterprise had a return on equity of 8.94% and a net margin of 6.39%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. As a group, sell-side analysts anticipate that Hewlett Packard Enterprise will post 1.66 EPS for the current fiscal year.

Hewlett Packard Enterprise Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Friday, December 20th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.40%. Hewlett Packard Enterprise’s dividend payout ratio is 37.14%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HPE. Bank of America upgraded shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $21.00 to $24.00 in a research note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Hewlett Packard Enterprise in a research note on Wednesday, October 9th. They set a “hold” rating and a $22.00 target price on the stock. Morgan Stanley upgraded shares of Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $23.00 to $28.00 in a research report on Thursday. Citigroup lifted their price objective on shares of Hewlett Packard Enterprise from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, UBS Group lifted their price objective on shares of Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.71.

Insider Activity

In other news, CEO Antonio F. Neri sold 250,000 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $20.73, for a total transaction of $5,182,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,508,641 shares in the company, valued at approximately $31,274,127.93. The trade was a 14.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jeremy Cox sold 7,770 shares of Hewlett Packard Enterprise stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $21.00, for a total value of $163,170.00. Following the completion of the transaction, the senior vice president now directly owns 7,771 shares of the company’s stock, valued at $163,191. This represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 426,012 shares of company stock valued at $8,599,617. 0.40% of the stock is owned by company insiders.

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.