Principal Financial Group Inc. Boosts Stake in Amentum Holdings, Inc. (NYSE:AMTM)

Principal Financial Group Inc. grew its position in Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 18.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 712,172 shares of the company's stock after buying an additional 110,123 shares during the quarter. Principal Financial Group Inc. owned 0.29% of Amentum worth $12,962,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund grew its stake in shares of Amentum by 12.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 32,800 shares of the company's stock valued at $597,000 after buying an additional 3,600 shares in the last quarter. First Bank & Trust grew its stake in shares of Amentum by 38.4% in the first quarter. First Bank & Trust now owns 14,357 shares of the company's stock valued at $261,000 after buying an additional 3,985 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of Amentum by 11.6% in the first quarter. New York State Teachers Retirement System now owns 138,486 shares of the company's stock valued at $2,520,000 after buying an additional 14,364 shares in the last quarter. Amalgamated Bank grew its stake in shares of Amentum by 12.3% in the first quarter. Amalgamated Bank now owns 43,366 shares of the company's stock valued at $789,000 after buying an additional 4,756 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Amentum by 14.3% in the first quarter. KBC Group NV now owns 7,339 shares of the company's stock valued at $134,000 after buying an additional 918 shares in the last quarter. 39.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AMTM shares. Royal Bank Of Canada set a $24.00 price objective on Amentum and gave the company a "sector perform" rating in a research note on Wednesday, May 21st. BTIG Research started coverage on Amentum in a research note on Tuesday, April 15th. They set a "buy" rating and a $30.00 target price for the company. Bank of America started coverage on Amentum in a research note on Tuesday, June 10th. They set a "neutral" rating and a $24.00 target price for the company. Citizens Jmp started coverage on Amentum in a research note on Monday, May 12th. They set an "outperform" rating and a $30.00 target price for the company. Finally, Morgan Stanley started coverage on Amentum in a research note on Wednesday, April 16th. They set an "underweight" rating and a $19.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Amentum presently has a consensus rating of "Hold" and an average target price of $25.22.

Amentum Stock Performance

Shares of NYSE:AMTM traded down $0.34 on Friday, hitting $23.68. 1,426,049 shares of the company's stock were exchanged, compared to its average volume of 2,676,313. The firm's 50-day moving average is $22.21 and its 200 day moving average is $20.84. Amentum Holdings, Inc. has a 1-year low of $16.01 and a 1-year high of $34.47. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.01.

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. On average, equities research analysts forecast that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal 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.