PNC Financial Services Group Inc. Sells 14,186 Shares of Amentum Holdings, Inc. $AMTM

Key Points

• PNC Financial Services Group Inc. reduced its stake in Amentum Holdings by 47.7%, selling 14,186 shares and retaining 15,562 shares valued at approximately $283,000.
• Several institutional investors significantly increased their stakes in Amentum during the fourth quarter, with Kovitz Investment Group Partners increasing theirs by a staggering 10,851.5%.
• Analyst ratings for Amentum are mixed, with one sell rating, four hold ratings, and four buy ratings, along with a consensus target price of $27.00.

PNC Financial Services Group Inc. reduced its position in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 47.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,562 shares of the company's stock after selling 14,186 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Amentum were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in Amentum by 108.0% during the 1st quarter. Signaturefd LLC now owns 1,764 shares of the company's stock worth $32,000 after purchasing an additional 916 shares during the last quarter. FNY Investment Advisers LLC raised its holdings 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 purchasing an additional 1,900 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in Amentum by 382.1% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,748 shares of the company's stock worth $58,000 after purchasing an additional 2,178 shares during the last quarter. State of Wyoming raised its holdings in Amentum by 43.3% during the 4th quarter. State of Wyoming now owns 2,756 shares of the company's stock worth $58,000 after purchasing an additional 833 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Amentum by 78.8% during the 1st quarter. GAMMA Investing LLC now owns 3,137 shares of the company's stock worth $57,000 after purchasing an additional 1,383 shares during the last quarter. 39.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMTM. The Goldman Sachs Group boosted their price objective on Amentum from $21.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, August 13th. JMP Securities reissued a "market outperform" rating and set a $30.00 price objective on shares of Amentum in a report on Monday. Raymond James Financial restated an "outperform" rating and set a $30.00 target price on shares of Amentum in a research report on Monday. Citizens Jmp initiated coverage on Amentum in a research report on Monday, May 12th. They set an "outperform" rating and a $30.00 target price for the company. Finally, Bank of America boosted their target price on Amentum from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 13th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $27.30.

Amentum Stock Down 1.0%

Shares of AMTM traded down $0.25 on Wednesday, hitting $24.12. The company's stock had a trading volume of 570,910 shares, compared to its average volume of 2,243,721. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.97. The firm's fifty day moving average price is $24.22 and its 200-day moving average price is $21.44. Amentum Holdings, Inc. has a fifty-two week low of $16.01 and a fifty-two week high of $34.50. The firm has a market capitalization of $5.87 billion and a price-to-earnings ratio of 61.85.

Amentum (NYSE:AMTM - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.03. Amentum had a return on equity of 10.90% and a net margin of 0.41%.The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $3.51 billion. Amentum's quarterly revenue was up 66.2% compared to the same quarter last year. Amentum has set its FY 2025 guidance at 2.050-2.200 EPS. On average, equities research analysts expect that Amentum Holdings, Inc. will post 2.1 EPS for the current year.

Amentum Company 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.