Princeton Capital Management LLC Cuts Stock Position in Hewlett Packard Enterprise (NYSE:HPE)

Princeton Capital Management LLC trimmed its holdings in Hewlett Packard Enterprise (NYSE:HPE - Free Report) by 80.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,412 shares of the technology company's stock after selling 53,658 shares during the quarter. Princeton Capital Management LLC's holdings in Hewlett Packard Enterprise were worth $274,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Pacer Advisors Inc. lifted its position in shares of Hewlett Packard Enterprise by 14,953.2% during 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 last quarter. Dimensional Fund Advisors LP increased its holdings in Hewlett Packard Enterprise by 4.6% during the second 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 during the period. Legal & General Group Plc raised its stake in Hewlett Packard Enterprise by 3.8% in the second 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in Hewlett Packard Enterprise by 2.6% during the second 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 during the period. Finally, Marshall Wace LLP boosted its position in Hewlett Packard Enterprise by 3,228.2% during the 2nd quarter. Marshall Wace LLP now owns 8,825,249 shares of the technology company's stock valued at $186,831,000 after acquiring an additional 8,560,086 shares in the last quarter. 80.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HPE has been the subject of several recent research reports. UBS Group upped their price objective on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hewlett Packard Enterprise in a report on Wednesday, October 9th. They issued a "hold" rating and a $22.00 price target on the stock. Raymond James raised shares of Hewlett Packard Enterprise from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the stock from $23.00 to $29.00 in a research report on Monday. Bank of America raised shares of Hewlett Packard Enterprise from a "neutral" rating to a "buy" rating and increased their target price for the company from $21.00 to $24.00 in a research report on Tuesday, September 17th. Finally, Loop Capital upped their price target on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a "hold" rating in a research report on Monday, September 9th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $22.21.

Hewlett Packard Enterprise Stock Performance

NYSE:HPE traded up $0.11 during midday trading on Tuesday, hitting $21.49. The company's stock had a trading volume of 4,998,476 shares, compared to its average volume of 15,223,904. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.94 and a quick ratio of 0.62. Hewlett Packard Enterprise has a fifty-two week low of $14.47 and a fifty-two week high of $22.82. The firm's 50 day moving average is $19.95 and its 200-day moving average is $19.50. The firm has a market cap of $27.91 billion, a P/E ratio of 15.14, a P/E/G ratio of 3.27 and a beta of 1.19.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last issued its earnings results 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 firm had revenue of $7.71 billion during the quarter, compared to analysts' expectations 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 revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 earnings per share. Equities analysts anticipate that Hewlett Packard Enterprise will post 1.66 earnings per share for the current fiscal year.

Hewlett Packard Enterprise Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Thursday, September 19th. Hewlett Packard Enterprise's dividend payout ratio is currently 37.14%.

Insider Buying and Selling at Hewlett Packard Enterprise

In related news, EVP Neil B. Macdonald sold 29,000 shares of the business's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $17.00, for a total value of $493,000.00. Following the completion of the transaction, the executive vice president now directly owns 82,061 shares in the company, valued at $1,395,037. The trade was a 26.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Antonio F. Neri sold 250,000 shares of the firm's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $20.73, for a total transaction of $5,182,500.00. Following the sale, the chief executive officer now owns 1,508,641 shares in the company, valued at approximately $31,274,127.93. This represents a 14.22 % decrease in their position. 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 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.