Concentric Capital Strategies LP Invests $3.41 Million in Hewlett Packard Enterprise (NYSE:HPE)

Concentric Capital Strategies LP purchased a new position in shares of Hewlett Packard Enterprise (NYSE:HPE - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 166,445 shares of the technology company's stock, valued at approximately $3,405,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Investment Counsel Inc increased its position in Hewlett Packard Enterprise by 1.2% during the second quarter. Capital Investment Counsel Inc now owns 41,269 shares of the technology company's stock worth $874,000 after buying an additional 500 shares during the last quarter. First Horizon Advisors Inc. raised its stake in Hewlett Packard Enterprise by 4.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 10,933 shares of the technology company's stock valued at $231,000 after acquiring an additional 501 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Hewlett Packard Enterprise by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 111,617 shares of the technology company's stock valued at $2,363,000 after purchasing an additional 536 shares during the last quarter. Avior Wealth Management LLC boosted its position in Hewlett Packard Enterprise by 6.4% during the third quarter. Avior Wealth Management LLC now owns 9,665 shares of the technology company's stock worth $198,000 after purchasing an additional 579 shares during the period. Finally, Bailard Inc. boosted its position in Hewlett Packard Enterprise by 1.7% during the second quarter. Bailard Inc. now owns 35,349 shares of the technology company's stock worth $748,000 after purchasing an additional 580 shares during the period. Institutional investors own 80.78% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HPE. Citigroup raised their target price on shares of Hewlett Packard Enterprise from $20.00 to $23.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th. Raymond James upgraded shares of Hewlett Packard Enterprise from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $23.00 to $29.00 in a research report on Monday, November 18th. Loop Capital upped their target price on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the company a "hold" rating in a research report on Monday, September 9th. Susquehanna reiterated a "neutral" rating and set a $20.00 target price on shares of Hewlett Packard Enterprise in a research note on Friday, October 11th. Finally, Bank of America upgraded Hewlett Packard Enterprise from a "neutral" rating to a "buy" rating and boosted their price target for the company from $21.00 to $24.00 in a research note on Tuesday, September 17th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $22.21.

Hewlett Packard Enterprise Price Performance

Shares of NYSE HPE traded down $0.07 during trading hours on Tuesday, hitting $21.18. 3,207,091 shares of the stock were exchanged, compared to its average volume of 15,088,729. The company's fifty day simple moving average is $20.72 and its two-hundred day simple moving average is $19.80. The company has a market cap of $27.51 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 3.32 and a beta of 1.21. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.62 and a current ratio of 0.94. Hewlett Packard Enterprise has a 1-year low of $14.47 and a 1-year high of $22.82.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last issued its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. Hewlett Packard Enterprise had a return on equity of 8.94% and a net margin of 6.39%. The company had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.67 billion. During the same quarter last year, the company posted $0.35 EPS. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. On average, sell-side analysts predict that Hewlett Packard Enterprise will post 1.66 EPS for the current year.

Hewlett Packard Enterprise Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, September 19th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Thursday, September 19th. Hewlett Packard Enterprise's dividend payout ratio is 37.14%.

Insider Activity at Hewlett Packard Enterprise

In other Hewlett Packard Enterprise news, CEO Antonio F. Neri sold 83,334 shares of the stock in a transaction dated 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 approximately $34,680,400.52. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Neil B. Macdonald sold 29,000 shares of the business's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $17.00, for a total value 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. This trade represents a 26.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 426,012 shares of company stock valued at $8,599,617 in the last quarter. Insiders own 0.40% of the company's stock.

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.