Allianz Asset Management GmbH Invests $704,000 in Amentum Holdings, Inc. (NYSE:AMTM)

Key Points

• Allianz Asset Management GmbH acquired a new stake in Amentum Holdings, Inc., purchasing 38,700 shares for approximately $704,000 during the first quarter.
• Amentum reported a quarterly EPS of $0.53, exceeding analyst expectations of $0.48, with revenue reaching $3.49 billion.
• Institutional investors currently own 39.93% of Amentum's stock, reflecting significant interest from various financial firms, including increases from Principal Financial Group and New York State Teachers Retirement System.

Allianz Asset Management GmbH acquired a new stake in Amentum Holdings, Inc. (NYSE:AMTM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 38,700 shares of the company's stock, valued at approximately $704,000.

Several other hedge funds also recently modified their holdings of AMTM. LPL Financial LLC raised its stake in Amentum by 14.1% in the 4th quarter. LPL Financial LLC now owns 118,782 shares of the company's stock valued at $2,498,000 after acquiring an additional 14,637 shares during the period. Vanguard Group Inc. boosted its stake in shares of Amentum by 18.0% during the fourth quarter. Vanguard Group Inc. now owns 16,542,447 shares of the company's stock valued at $347,888,000 after purchasing an additional 2,529,173 shares during the period. Prudential Financial Inc. raised its holdings in shares of Amentum by 55.7% during the fourth quarter. Prudential Financial Inc. now owns 122,574 shares of the company's stock valued at $2,578,000 after acquiring an additional 43,829 shares in the last quarter. Norges Bank bought a new position in Amentum in the fourth quarter worth $30,286,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Amentum during the fourth quarter valued at $1,513,000. Institutional investors own 39.93% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMTM. Bank of America started coverage on Amentum in a research report on Tuesday, June 10th. They set a "neutral" rating and a $24.00 price objective on the stock. Royal Bank Of Canada set a $24.00 target price on Amentum and gave the stock a "sector perform" rating in a report on Wednesday, May 21st. Citizens Jmp initiated coverage on Amentum in a report on Monday, May 12th. They issued an "outperform" rating and a $30.00 price target for the company. Morgan Stanley started coverage on Amentum in a report on Wednesday, April 16th. They issued an "underweight" rating and a $19.00 price objective on the stock. Finally, BTIG Research began coverage on Amentum in a report on Tuesday, April 15th. They set a "buy" rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Amentum currently has a consensus rating of "Hold" and a consensus target price of $25.89.

Amentum Trading Up 1.2%

NYSE:AMTM traded up $0.30 on Monday, reaching $24.46. The company's stock had a trading volume of 1,466,633 shares, compared to its average volume of 1,568,501. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.56 and a quick ratio of 1.56. Amentum Holdings, Inc. has a 12-month low of $16.01 and a 12-month high of $34.50. The stock has a 50 day moving average price of $23.33 and a 200 day moving average price of $21.14.

Amentum (NYSE:AMTM - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.05. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. Research analysts predict that Amentum Holdings, Inc. will post 2.1 earnings per share for the current fiscal year.

Amentum Profile

Amentum Holdings, Inc provides engineering and technology solutions to address challenges in science, security, and sustainability. It serves various markets, such as energy and environment, space, intelligence, defense, civilian, commercial, and international markets. The company was incorporated in 2010 and is headquatered in Chantilly, Virginia.