Millennium Management LLC Raises Stock Position in Amentum Holdings, Inc. (NYSE:AMTM)

Millennium Management LLC raised its holdings in Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 78.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,196,574 shares of the company's stock after acquiring an additional 524,807 shares during the quarter. Millennium Management LLC owned about 0.49% of Amentum worth $25,164,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Huntington National Bank bought a new stake in shares of Amentum in the 4th quarter worth about $30,000. IFP Advisors Inc raised its holdings in shares of Amentum by 119.2% in the 4th quarter. IFP Advisors Inc now owns 1,532 shares of the company's stock valued at $35,000 after purchasing an additional 833 shares during the period. Asset Planning Inc bought a new stake in shares of Amentum in the 4th quarter valued at about $36,000. Horizon Investments LLC acquired a new position in shares of Amentum during the 4th quarter worth approximately $36,000. Finally, National Bank of Canada FI boosted its position in shares of Amentum by 31,328.6% during the 4th quarter. National Bank of Canada FI now owns 2,200 shares of the company's stock worth $46,000 after acquiring an additional 2,193 shares in the last quarter. 39.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Amentum in a research note on Thursday, March 20th. They set a "neutral" rating and a $21.00 target price for the company. Royal Bank of Canada set a $24.00 price objective on shares of Amentum and gave the company a "sector perform" rating in a report on Wednesday. BTIG Research started coverage on shares of Amentum in a report on Tuesday, April 15th. They set a "buy" rating and a $30.00 price objective for the company. Morgan Stanley started coverage on shares of Amentum in a report on Wednesday, April 16th. They set an "underweight" rating and a $19.00 price objective for the company. Finally, Cantor Fitzgerald upgraded shares of Amentum to a "hold" rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $25.38.

Amentum Stock Down 3.0%

Amentum stock traded down $0.65 during midday trading on Friday, hitting $20.56. 1,351,454 shares of the stock were exchanged, compared to its average volume of 2,749,981. Amentum Holdings, Inc. has a 52-week low of $16.01 and a 52-week high of $34.47. The business's 50-day moving average price is $19.70 and its 200-day moving average price is $21.17. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.02.

Amentum (NYSE:AMTM - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.05. The business had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.44 billion. Sell-side analysts predict that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

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.