Empirical Finance LLC Increases Stake in Hewlett Packard Enterprise (NYSE:HPE)

Empirical Finance LLC increased its stake in Hewlett Packard Enterprise (NYSE:HPE) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,509 shares of the technology company’s stock after purchasing an additional 925 shares during the period. Empirical Finance LLC’s holdings in Hewlett Packard Enterprise were worth $911,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Hewlett Packard Enterprise by 3.7% during the first quarter. Vanguard Group Inc. now owns 161,853,093 shares of the technology company’s stock worth $2,869,655,000 after buying an additional 5,777,901 shares during the period. Pacer Advisors Inc. grew its stake in Hewlett Packard Enterprise by 14,953.2% during the 2nd quarter. Pacer Advisors Inc. now owns 23,189,645 shares of the technology company’s stock valued at $490,925,000 after purchasing an additional 23,035,594 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in 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 purchasing an additional 822,722 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of 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 valued at $358,602,000 after purchasing an additional 617,691 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Hewlett Packard Enterprise by 2.6% in 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 purchasing an additional 237,321 shares during the last quarter. Institutional investors and hedge funds own 80.78% of the company’s stock.

Insider Activity at Hewlett Packard Enterprise

In other news, SVP Jeremy Cox sold 7,770 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 7,771 shares in the company, valued at $163,191. This represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $493,000.00. Following the transaction, the executive vice president now owns 82,061 shares in the company, valued at $1,395,037. The trade was a 26.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 426,012 shares of company stock valued at $8,599,617. 0.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Citigroup began coverage on Hewlett Packard Enterprise in a research report on Monday, September 23rd. They issued a “neutral” rating and a $20.00 target price on the stock. UBS Group upped 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. Loop Capital raised their target price on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Monday, September 9th. Susquehanna reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Hewlett Packard Enterprise in a report on Friday, October 11th. Finally, Barclays upgraded Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $20.00 to $24.00 in a research note on Wednesday, September 25th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $21.46.

Hewlett Packard Enterprise Stock Performance

Shares of HPE stock opened at $21.07 on Friday. 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 12-month low of $14.47 and a 12-month high of $22.82. The business’s 50 day moving average is $19.87 and its two-hundred day moving average is $19.45. The company has a market capitalization of $27.36 billion, a P/E ratio of 15.05, a P/E/G ratio of 3.39 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The firm had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.67 billion. Hewlett Packard Enterprise had a return on equity of 8.94% and a net margin of 6.39%. The business’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. Analysts expect that Hewlett Packard Enterprise will post 1.66 EPS 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. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.52 annualized dividend and a dividend yield of 2.47%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is presently 37.14%.

Hewlett Packard Enterprise Company 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.