Bank of America Corp DE Acquires New Holdings in Amentum Holdings, Inc. $AMTM

Key Points

• Bank of America acquired a new 2.04 million-share stake in Amentum during the second quarter, valued at approximately $42.2 million and representing about 0.84% of the company.
• Analyst sentiment remains mixed: five firms rate Amentum a Buy, seven a Hold, and one a Sell. The consensus rating is Hold, with an average price target of $29.18, despite several recent target-price cuts.
• Amentum exceeded quarterly EPS expectations with $0.67 versus the $0.61 consensus, but revenue fell 2% year over year to $3.49 billion. Shares opened at $19.94, near the stock’s 12-month low of $19.21.

Bank of America Corp DE bought a new stake in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 2,042,897 shares of the company's stock, valued at approximately $42,227,000. Bank of America Corp DE owned approximately 0.84% of Amentum at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Global Retirement Partners LLC purchased a new stake in shares of Amentum in the second quarter valued at $31,000. Western Wealth Management LLC purchased a new stake in Amentum during the 1st quarter worth about $33,000. NFSG Corp purchased a new stake in Amentum during the 1st quarter worth about $35,000. EverSource Wealth Advisors LLC raised its stake in Amentum by 35.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,853 shares of the company's stock valued at $54,000 after purchasing an additional 481 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. acquired a new position in Amentum in the 2nd quarter valued at about $109,000. Hedge funds and other institutional investors own 39.93% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMTM. Royal Bank Of Canada reduced their price objective on shares of Amentum from $28.00 to $26.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 12th. Bank of America lowered their target price on shares of Amentum from $35.00 to $30.00 and set a "neutral" rating for the company in a research note on Monday, July 20th. Wall Street Zen upgraded Amentum from a "hold" rating to a "buy" rating in a report on Sunday. BNP Paribas Exane started coverage on Amentum in a research note on Tuesday, May 26th. They set an "underperform" rating and a $22.00 price target on the stock. Finally, BTIG Research decreased their price objective on Amentum from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Wednesday, August 12th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $29.18.

Amentum Stock Up 1.7%

Shares of Amentum stock opened at $19.94 on Tuesday. Amentum Holdings, Inc. has a twelve month low of $19.21 and a twelve month high of $38.11. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 0.57 and a beta of 0.26. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.79. The company has a fifty day moving average price of $21.19 and a 200 day moving average price of $23.41.

Amentum (NYSE:AMTM - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. Amentum had a return on equity of 12.19% and a net margin of 1.44%.The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the company posted $0.56 earnings per share. The firm's revenue was down 2.0% compared to the same quarter last year. Amentum has set its FY 2026 guidance at 2.400-2.500 EPS. Equities research analysts forecast that Amentum Holdings, Inc. will post 2.38 earnings per share for the current fiscal year.

Amentum Profile

Amentum NYSE: AMTM is a global engineering and technical services company that provides mission support to government and commercial customers. Its capabilities include systems engineering, program management, operations and maintenance, logistics, cybersecurity, information technology, intelligence analysis, and professional services.

The company supports customers across the defense, intelligence, space, civilian government, energy, environmental, and industrial markets. Its work includes maintaining and modernizing critical infrastructure and complex platforms, supporting national security missions, managing nuclear and environmental programs, and providing technical services for space and other advanced technology programs.

Amentum was established through the combination of Amentum and Jacobs' Critical Mission Solutions and Cyber and Intelligence businesses, which was completed in 2024.

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