Hewlett Packard Enterprise Company (NYSE:HPE) Shares Sold by Torray Investment Partners LLC

Key Points

• Torray Investment Partners LLC decreased its stake in Hewlett Packard Enterprise by 29.1%, retaining 503,437 shares valued at approximately $7.77 million.
• Hewlett Packard Enterprise reported $0.38 earnings per share, surpassing analysts' expectations of $0.33, with revenue totaling $7.63 billion for the quarter.
• The company declared a quarterly dividend of $0.13 per share, resulting in an annualized yield of 2.49%, paid to shareholders on July 17th.

Torray Investment Partners LLC trimmed its position in shares of Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 29.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 503,437 shares of the technology company's stock after selling 207,095 shares during the period. Torray Investment Partners LLC's holdings in Hewlett Packard Enterprise were worth $7,768,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Putney Financial Group LLC bought a new stake in shares of Hewlett Packard Enterprise in the 4th quarter worth about $25,000. Alpine Bank Wealth Management bought a new stake in shares of Hewlett Packard Enterprise in the 1st quarter worth about $25,000. Bruce G. Allen Investments LLC increased its holdings in shares of Hewlett Packard Enterprise by 345.0% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,700 shares of the technology company's stock worth $26,000 after buying an additional 1,318 shares during the last quarter. Hara Capital LLC purchased a new position in shares of Hewlett Packard Enterprise during the 4th quarter worth about $28,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Hewlett Packard Enterprise during the 4th quarter worth about $31,000. 80.78% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Phil Mottram sold 30,000 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $20.54, for a total value of $616,200.00. Following the transaction, the executive vice president directly owned 42,427 shares of the company's stock, valued at approximately $871,450.58. This trade represents a 41.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jeremy Cox sold 68,590 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $18.44, for a total transaction of $1,264,799.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 128,590 shares of company stock worth $2,436,000. Insiders own 0.36% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on HPE. JPMorgan Chase & Co. began coverage on shares of Hewlett Packard Enterprise in a research note on Thursday, July 17th. They set an "overweight" rating and a $30.00 price target for the company. Bank of America upped their price target on shares of Hewlett Packard Enterprise from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Wolfe Research started coverage on shares of Hewlett Packard Enterprise in a research report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Citigroup started coverage on shares of Hewlett Packard Enterprise in a research report on Friday, July 25th. They set a "buy" rating and a $25.00 target price for the company. Finally, UBS Group increased their target price on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $22.67.

Hewlett Packard Enterprise Stock Performance

HPE stock traded down $0.90 during midday trading on Friday, hitting $19.79. 14,722,820 shares of the stock traded hands, compared to its average volume of 16,313,979. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.29 and a quick ratio of 0.96. The firm has a market cap of $25.97 billion, a P/E ratio of 19.99, a PEG ratio of 2.27 and a beta of 1.37. Hewlett Packard Enterprise Company has a 1-year low of $11.97 and a 1-year high of $24.66. The stock's fifty day simple moving average is $19.34 and its 200-day simple moving average is $18.47.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.05. The business had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.51 billion. Hewlett Packard Enterprise had a net margin of 4.60% and a return on equity of 9.59%. The company's revenue was up 5.9% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. On average, analysts expect that Hewlett Packard Enterprise Company will post 1.85 earnings per share for the current year.

Hewlett Packard Enterprise Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Wednesday, June 18th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, June 18th. Hewlett Packard Enterprise's dividend payout ratio (DPR) is currently 52.53%.

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.