Bank of America Corp DE Reduces Position in Amentum Holdings, Inc. (NYSE:AMTM)

Bank of America Corp DE trimmed its holdings in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 15.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 608,845 shares of the company's stock after selling 108,775 shares during the quarter. Bank of America Corp DE owned 0.25% of Amentum worth $12,804,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. CIBC Private Wealth Group LLC boosted its holdings in Amentum by 9.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 7,639 shares of the company's stock valued at $164,000 after purchasing an additional 675 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Amentum by 22.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,978 shares of the company's stock valued at $84,000 after acquiring an additional 730 shares in the last quarter. IFP Advisors Inc grew its stake in Amentum by 119.2% during the 4th quarter. IFP Advisors Inc now owns 1,532 shares of the company's stock worth $35,000 after buying an additional 833 shares during the last quarter. Huntington National Bank acquired a new position in shares of Amentum in the 4th quarter valued at $30,000. Finally, Paralel Advisors LLC raised its holdings in shares of Amentum by 10.0% in the fourth quarter. Paralel Advisors LLC now owns 16,329 shares of the company's stock valued at $343,000 after buying an additional 1,480 shares during the last quarter. 39.93% of the stock is currently owned by institutional investors and hedge funds.

Amentum Trading Down 1.5%

AMTM traded down $0.31 on Wednesday, reaching $20.94. 143,198 shares of the company's stock were exchanged, compared to its average volume of 2,727,392. Amentum Holdings, Inc. has a twelve month low of $16.01 and a twelve month high of $34.47. The company's 50 day moving average is $19.79 and its 200-day moving average is $21.08. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.02.

Amentum (NYSE:AMTM - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.05. The business had revenue of $3.49 billion for the quarter, compared to analysts' expectations of $3.44 billion. As a group, sell-side analysts forecast that Amentum Holdings, Inc. will post 2.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AMTM shares. Truist Financial cut their price target on Amentum from $31.00 to $24.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Citizens Jmp assumed coverage on Amentum in a research note on Monday, May 12th. They set an "outperform" rating and a $30.00 price target on the stock. BTIG Research initiated coverage on shares of Amentum in a report on Tuesday, April 15th. They set a "buy" rating and a $30.00 target price for the company. The Goldman Sachs Group began coverage on Amentum in a research report on Thursday, March 20th. They set a "neutral" rating and a $21.00 price target for the company. Finally, Morgan Stanley assumed coverage on shares of Amentum in a research report on Wednesday, April 16th. They issued an "underweight" rating and a $19.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Amentum currently has a consensus rating of "Hold" and a consensus target price of $25.38.

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.