Longfellow Investment Management Co. LLC Raises Stock Holdings in Hewlett Packard Enterprise (NYSE:HPE)

Longfellow Investment Management Co. LLC grew its stake in shares of Hewlett Packard Enterprise (NYSE:HPE) by 45.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,627 shares of the technology company’s stock after buying an additional 11,790 shares during the period. Longfellow Investment Management Co. LLC’s holdings in Hewlett Packard Enterprise were worth $770,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its position in shares of Hewlett Packard Enterprise by 18.1% in the third quarter. Pacer Advisors Inc. now owns 27,383,858 shares of the technology company’s stock worth $560,274,000 after purchasing an additional 4,194,213 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Hewlett Packard Enterprise by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 18,871,236 shares of the technology company’s stock valued at $399,507,000 after buying an additional 822,722 shares in the last quarter. Legal & General Group Plc boosted its holdings in Hewlett Packard Enterprise by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 16,939,160 shares of the technology company’s stock worth $358,602,000 after buying an additional 617,691 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Hewlett Packard Enterprise by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,609,078 shares of the technology company’s stock worth $196,602,000 after buying an additional 129,463 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Hewlett Packard Enterprise by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,483,975 shares of the technology company’s stock worth $200,776,000 after buying an additional 237,321 shares in the last quarter. 80.78% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Neil B. Macdonald sold 29,000 shares of Hewlett Packard Enterprise stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $17.00, for a total transaction of $493,000.00. Following the completion of the sale, the executive vice president now owns 82,061 shares in the company, valued at $1,395,037. This trade represents a 26.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jeremy Cox sold 7,770 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $21.00, for a total transaction of $163,170.00. Following the completion of the transaction, the senior vice president now owns 7,771 shares in the company, 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 ninety days, insiders sold 426,012 shares of company stock valued at $8,599,617. 0.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HPE. Barclays raised Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $20.00 to $24.00 in a research note on Wednesday, September 25th. Susquehanna reaffirmed a “neutral” rating and set a $20.00 target price on shares of Hewlett Packard Enterprise in a research note on Friday, October 11th. UBS Group increased 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. Bank of America upgraded Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $21.00 to $24.00 in a research report on Tuesday, September 17th. Finally, Raymond James upgraded Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $23.00 to $29.00 in a report on Monday, November 18th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.21.

Hewlett Packard Enterprise Stock Performance

Shares of HPE opened at $22.10 on Monday. The company’s fifty day simple moving average is $20.35 and its 200-day simple moving average is $19.63. The company has a market cap of $28.70 billion, a P/E ratio of 15.79, a P/E/G ratio of 3.45 and a beta of 1.19. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36. Hewlett Packard Enterprise has a twelve month low of $14.47 and a twelve month high of $22.82.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.67 billion. Hewlett Packard Enterprise had a net margin of 6.39% and a return on equity of 8.94%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share. As a group, analysts expect that Hewlett Packard Enterprise will post 1.66 EPS for the current year.

Hewlett Packard Enterprise Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, September 19th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.52 dividend on an annualized basis and a yield of 2.35%. Hewlett Packard Enterprise’s payout ratio is 37.14%.

About Hewlett Packard Enterprise

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.