Kovitz Investment Group Partners LLC Sells 11,712,040 Shares of Amentum Holdings, Inc. (NYSE:AMTM)

Key Points

• Kovitz Investment Group Partners LLC cut its stake in Amentum Holdings, Inc. by 79.2%, selling 11,712,040 shares and reducing its ownership to 1.26% valued at approximately $55.97 million.
• Amentum's latest quarterly earnings report showed earnings of $0.56 per share, exceeding expectations, but the company reported revenue of $2.23 billion, falling short of the analyst forecast of $3.51 billion.
• Analysts have adjusted their price targets for Amentum, with the consensus target now at $27.00, and ratings ranging from "buy" to "underweight" reflecting varying outlooks on the stock.

Kovitz Investment Group Partners LLC reduced its stake in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 79.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,075,305 shares of the company's stock after selling 11,712,040 shares during the period. Kovitz Investment Group Partners LLC owned 1.26% of Amentum worth $55,971,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AMTM. Principal Financial Group Inc. grew its holdings in Amentum by 18.3% during the 1st quarter. Principal Financial Group Inc. now owns 712,172 shares of the company's stock worth $12,962,000 after acquiring an additional 110,123 shares during the period. Amalgamated Bank grew its holdings in Amentum by 12.3% during the 1st quarter. Amalgamated Bank now owns 43,366 shares of the company's stock worth $789,000 after acquiring an additional 4,756 shares during the period. KBC Group NV grew its holdings in Amentum by 14.3% during the 1st quarter. KBC Group NV now owns 7,339 shares of the company's stock worth $134,000 after acquiring an additional 918 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Amentum during the 1st quarter worth about $615,000. Finally, New York State Teachers Retirement System grew its holdings in Amentum by 11.6% during the 1st quarter. New York State Teachers Retirement System now owns 138,486 shares of the company's stock worth $2,520,000 after acquiring an additional 14,364 shares during the period. 39.93% of the stock is owned by institutional investors.

Amentum Price Performance

Shares of NYSE AMTM opened at $26.48 on Thursday. Amentum Holdings, Inc. has a fifty-two week low of $16.01 and a fifty-two week high of $34.50. The stock has a market cap of $6.44 billion and a price-to-earnings ratio of 67.90. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.58 and a current ratio of 1.58. The firm's 50-day simple moving average is $24.02 and its 200 day simple moving average is $21.31.

Amentum (NYSE:AMTM - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. Amentum had a net margin of 0.41% and a return on equity of 10.90%. The business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $3.51 billion. The company's revenue was up 66.2% on a year-over-year basis. As a group, research analysts anticipate that Amentum Holdings, Inc. will post 2.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on AMTM shares. Morgan Stanley started coverage on Amentum in a research note on Wednesday, April 16th. They issued an "underweight" rating and a $19.00 target price for the company. The Goldman Sachs Group raised their target price on Amentum from $21.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday. Royal Bank Of Canada raised their target price on Amentum from $24.00 to $26.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Bank of America raised their target price on Amentum from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Truist Financial raised their target price on Amentum from $24.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $27.00.

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.

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