Fifth Third Bancorp Purchases 270,727 Shares of Amentum Holdings, Inc. $AMTM

Key Points

• Fifth Third Bancorp dramatically increased its Amentum stake in the first quarter, buying 270,727 shares and raising its position by 10,456.8% to 273,316 shares valued at about $7.13 million.
• Other institutional investors also hold sizable positions in Amentum, with firms like Invesco, Primecap, and State Street reporting large stakes; institutional ownership totals 39.93% of the company.
• Wall Street sentiment is mixed to cautious: analysts currently rate Amentum a Hold on average, with a consensus target price of $32, while the stock recently traded at $20.77 and the company’s latest earnings beat estimates slightly.

Fifth Third Bancorp raised its position in Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 10,456.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 273,316 shares of the company's stock after buying an additional 270,727 shares during the period. Fifth Third Bancorp owned 0.11% of Amentum worth $7,128,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of AMTM. Invesco Ltd. grew its holdings in shares of Amentum by 13.0% in the third quarter. Invesco Ltd. now owns 22,116,835 shares of the company's stock valued at $529,698,000 after acquiring an additional 2,539,594 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Amentum by 1.7% during the fourth quarter. Primecap Management Co. CA now owns 12,126,927 shares of the company's stock valued at $351,681,000 after acquiring an additional 208,341 shares during the last quarter. Legacy Advisors LLC bought a new stake in Amentum during the fourth quarter worth $284,614,000. State Street Corp lifted its holdings in Amentum by 7.6% during the second quarter. State Street Corp now owns 7,078,249 shares of the company's stock worth $167,117,000 after acquiring an additional 501,898 shares during the period. Finally, Focus Partners Wealth boosted its position in Amentum by 8,467.6% in the fourth quarter. Focus Partners Wealth now owns 2,794,417 shares of the company's stock worth $81,038,000 after purchasing an additional 2,761,801 shares during the last quarter. Institutional investors own 39.93% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Truist Financial reaffirmed a "buy" rating and set a $35.00 target price (down from $42.00) on shares of Amentum in a research report on Tuesday, May 12th. Weiss Ratings downgraded shares of Amentum from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, June 23rd. Royal Bank Of Canada reduced their price target on shares of Amentum from $35.00 to $28.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 13th. Wall Street Zen downgraded shares of Amentum from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and issued a $40.00 price objective on shares of Amentum in a research report on Monday, April 13th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Amentum presently has a consensus rating of "Hold" and a consensus target price of $32.00.

Amentum Stock Performance

Shares of AMTM opened at $20.77 on Friday. Amentum Holdings, Inc. has a 1 year low of $19.80 and a 1 year high of $38.11. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.48 and a quick ratio of 1.48. The stock's fifty day moving average price is $22.13 and its two-hundred day moving average price is $27.24. The firm has a market cap of $5.07 billion, a PE ratio of 34.62, a PEG ratio of 0.61 and a beta of 0.35.

Amentum (NYSE:AMTM - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. Amentum had a return on equity of 11.74% and a net margin of 1.04%.The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the company earned $0.53 EPS. The firm's quarterly revenue was down .4% compared to the same quarter last year. Amentum has set its FY 2026 guidance at 2.250-2.450 EPS. On average, equities research analysts forecast that Amentum Holdings, Inc. will post 2.36 EPS for the current year.

Amentum Profile

Amentum is a government services provider specializing in mission-critical solutions for defense, federal civilian and commercial customers around the globe. The company delivers integrated services that span the full lifecycle of complex programs and facilities, including engineering, program and project management, logistics, operations, maintenance and environmental remediation.

Core offerings include infrastructure support, energy and facilities management, environmental solutions and nuclear services.

Want to see what other hedge funds are holding AMTM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amentum Holdings, Inc. (NYSE:AMTM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.