Minneapolis Portfolio Management Group LLC Trims Stock Holdings in Hewlett Packard Enterprise (NYSE:HPE)

Minneapolis Portfolio Management Group LLC lowered its position in shares of Hewlett Packard Enterprise (NYSE:HPE) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 694,941 shares of the technology company’s stock after selling 7,667 shares during the quarter. Hewlett Packard Enterprise comprises approximately 1.8% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 27th biggest position. Minneapolis Portfolio Management Group LLC owned 0.05% of Hewlett Packard Enterprise worth $14,218,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Pacer Advisors Inc. grew its holdings in Hewlett Packard Enterprise by 14,953.2% in the second quarter. Pacer Advisors Inc. now owns 23,189,645 shares of the technology company’s stock worth $490,925,000 after purchasing an additional 23,035,594 shares during the period. Marshall Wace LLP grew its stake in shares of Hewlett Packard Enterprise by 3,228.2% in the 2nd quarter. Marshall Wace LLP now owns 8,825,249 shares of the technology company’s stock worth $186,831,000 after buying an additional 8,560,086 shares during the last quarter. Vanguard Group Inc. increased its position in Hewlett Packard Enterprise by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 161,853,093 shares of the technology company’s stock valued at $2,869,655,000 after buying an additional 5,777,901 shares in the last quarter. Panagora Asset Management Inc. increased its position in Hewlett Packard Enterprise by 336.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 4,269,603 shares of the technology company’s stock valued at $90,387,000 after buying an additional 3,291,880 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Hewlett Packard Enterprise during the first quarter valued at $51,938,000. Institutional investors own 80.78% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HPE shares. Citigroup started coverage on Hewlett Packard Enterprise in a research report on Monday, September 23rd. They issued a “neutral” rating and a $20.00 price target for the company. Bank of America upgraded shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and increased their price target for the company from $21.00 to $24.00 in a report on Tuesday, September 17th. Susquehanna reissued a “neutral” rating and set a $20.00 price target on shares of Hewlett Packard Enterprise in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft initiated coverage on 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. Finally, Barclays raised Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $20.00 to $24.00 in a report on Wednesday, September 25th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.46.

Hewlett Packard Enterprise Stock Performance

Shares of NYSE HPE traded up $0.57 during midday trading on Friday, hitting $20.06. 12,601,951 shares of the company’s stock traded hands, compared to its average volume of 11,253,803. The firm has a fifty day moving average of $19.37 and a 200 day moving average of $19.14. Hewlett Packard Enterprise has a 1 year low of $14.47 and a 1 year high of $22.82. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.62 and a current ratio of 0.94. The stock has a market capitalization of $26.05 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 3.71 and a beta of 1.19.

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

Hewlett Packard Enterprise Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, September 19th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, September 19th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.59%. Hewlett Packard Enterprise’s payout ratio is currently 37.14%.

Insider Activity at Hewlett Packard Enterprise

In other news, CEO Antonio F. Neri sold 83,334 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $19.72, for a total transaction of $1,643,346.48. Following the sale, the chief executive officer now directly owns 1,758,641 shares in the company, valued at $34,680,400.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Hewlett Packard Enterprise news, CEO Antonio F. Neri sold 83,334 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $19.72, for a total value of $1,643,346.48. Following the completion of the transaction, the chief executive officer now directly owns 1,758,641 shares in the company, valued at $34,680,400.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Neil B. Macdonald sold 29,000 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $17.00, for a total transaction of $493,000.00. Following the sale, the executive vice president now owns 82,061 shares in the company, valued at approximately $1,395,037. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 426,012 shares of company stock worth $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.