Amentum Holdings, Inc. (NYSE:AMTM) Stake Raised by Primecap Management Co. CA

Key Points

• Primecap Management Co. CA significantly increased its stake in Amentum Holdings, Inc. by 56.9%, owning approximately 4.14% of the company after acquiring over 3.6 million additional shares.
• Multiple research analysts have issued ratings on Amentum, with most reporting a mixed outlook; the consensus rating is currently "Hold" with a price target averaging $25.89.
• Amentum's stock recently opened at $25.32, reflecting a 3.4% increase, while the company reported a quarterly earnings per share of $0.53, surpassing analyst expectations.

Primecap Management Co. CA increased its holdings in Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 56.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,061,589 shares of the company's stock after buying an additional 3,647,210 shares during the period. Primecap Management Co. CA owned about 4.14% of Amentum worth $183,121,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of AMTM. Huntington National Bank acquired a new position in shares of Amentum during the fourth quarter worth approximately $30,000. Signaturefd LLC raised its stake in Amentum by 108.0% during the 1st quarter. Signaturefd LLC now owns 1,764 shares of the company's stock valued at $32,000 after acquiring an additional 916 shares in the last quarter. FNY Investment Advisers LLC boosted its position in Amentum by 380.0% during the 1st quarter. FNY Investment Advisers LLC now owns 2,400 shares of the company's stock worth $43,000 after acquiring an additional 1,900 shares during the period. National Bank of Canada FI grew its stake in shares of Amentum by 31,328.6% in the fourth quarter. National Bank of Canada FI now owns 2,200 shares of the company's stock worth $46,000 after purchasing an additional 2,193 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Amentum by 78.8% during the first quarter. GAMMA Investing LLC now owns 3,137 shares of the company's stock valued at $57,000 after purchasing an additional 1,383 shares during the period. 39.93% of the stock is owned by institutional investors and hedge funds.

Amentum Trading Down 1.2%

AMTM traded down $0.32 during trading on Friday, reaching $25.57. The company had a trading volume of 118,507 shares, compared to its average volume of 2,277,453. The firm's 50-day simple moving average is $23.62 and its 200 day simple moving average is $21.22. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.56 and a current ratio of 1.58. The company has a market cap of $6.22 billion and a price-to-earnings ratio of 65.57. Amentum Holdings, Inc. has a 12-month low of $16.01 and a 12-month high of $34.50.

Amentum (NYSE:AMTM - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.03. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $3.51 billion. Amentum had a net margin of 0.41% and a return on equity of 10.90%. The business's quarterly revenue was up 66.2% compared to the same quarter last year. Equities research analysts anticipate that Amentum Holdings, Inc. will post 2.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMTM. Morgan Stanley initiated coverage on shares of Amentum in a report on Wednesday, April 16th. They issued an "underweight" rating and a $19.00 price objective for the company. Bank of America began coverage on shares of Amentum in a research note on Tuesday, June 10th. They set a "neutral" rating and a $24.00 price objective on the stock. Citizens Jmp assumed coverage on Amentum in a report on Monday, May 12th. They set an "outperform" rating and a $30.00 target price on the stock. Royal Bank Of Canada increased their price target on Amentum from $24.00 to $26.00 and gave the company a "sector perform" rating in a research note on Thursday. Finally, BTIG Research assumed coverage on Amentum in a report on Tuesday, April 15th. They issued a "buy" rating and a $30.00 price objective for the company. One equities research 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $26.11.

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.