Russell Investments Group Ltd. Purchases 107,395 Shares of Amentum Holdings, Inc. $AMTM

Key Points

• Russell Investments Group Ltd. increased its stake in Amentum Holdings by 85.5%, now owning 232,933 shares valued at approximately $4.24 million.
• Several hedge funds have significantly boosted their holdings in Amentum, with Signaturefd LLC raising its position by 108%, while FNY Investment Advisers LLC increased by 380%.
• Analysts have raised their price targets for Amentum, with a consensus rating of "Hold" and an average price target of $27.30 per share, following the company's quarterly earnings surpassing estimates.

Russell Investments Group Ltd. lifted its stake in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 85.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 232,933 shares of the company's stock after buying an additional 107,395 shares during the period. Russell Investments Group Ltd. owned about 0.10% of Amentum worth $4,239,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. American Securities LLC acquired a new position in shares of Amentum during the first quarter worth $798,869,000. Invesco Ltd. increased its holdings in Amentum by 24.1% in the first quarter. Invesco Ltd. now owns 17,191,110 shares of the company's stock valued at $312,878,000 after purchasing an additional 3,334,871 shares during the period. Kovitz Investment Group Partners LLC increased its holdings in Amentum by 10,851.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 14,787,345 shares of the company's stock valued at $310,978,000 after purchasing an additional 14,652,319 shares during the period. Primecap Management Co. CA increased its holdings in Amentum by 56.9% in the first quarter. Primecap Management Co. CA now owns 10,061,589 shares of the company's stock valued at $183,121,000 after purchasing an additional 3,647,210 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Amentum by 149.5% in the fourth quarter. Wellington Management Group LLP now owns 2,333,221 shares of the company's stock valued at $49,068,000 after purchasing an additional 1,398,143 shares during the period. 39.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMTM. Citizens Jmp began coverage on Amentum in a report on Monday, May 12th. They set an "outperform" rating and a $30.00 price target for the company. Royal Bank Of Canada increased their price target on Amentum from $24.00 to $26.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Bank of America increased their price target on Amentum from $26.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, August 13th. Truist Financial increased their price target on Amentum from $24.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, JMP Securities reiterated a "market outperform" rating and set a $30.00 price target on shares of Amentum in a report on Monday, August 18th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Amentum currently has a consensus rating of "Hold" and an average price target of $27.30.

Amentum Stock Down 2.7%

NYSE AMTM traded down $0.69 during trading hours on Thursday, hitting $24.49. The company's stock had a trading volume of 305,858 shares, compared to its average volume of 2,201,501. Amentum Holdings, Inc. has a 52 week low of $16.01 and a 52 week high of $34.50. The company has a market capitalization of $5.96 billion and a PE ratio of 62.76. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.97. The company's 50-day simple moving average is $24.50 and its two-hundred day simple moving average is $21.57.

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. Amentum has set its FY 2025 guidance at 2.050-2.200 EPS. Research analysts anticipate that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

About Amentum

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.