TrinityPoint Wealth LLC Purchases 34,227 Shares of Amentum Holdings, Inc. (NYSE:AMTM)

TrinityPoint Wealth LLC raised its stake in Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 139.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 58,726 shares of the company's stock after buying an additional 34,227 shares during the quarter. TrinityPoint Wealth LLC's holdings in Amentum were worth $1,235,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMTM. Huntington National Bank bought a new stake in shares of Amentum during the 4th quarter worth about $30,000. IFP Advisors Inc boosted its position in shares of Amentum by 119.2% in the fourth quarter. IFP Advisors Inc now owns 1,532 shares of the company's stock worth $35,000 after buying an additional 833 shares during the period. Asset Planning Inc purchased a new position in Amentum during the 4th quarter valued at about $36,000. Horizon Investments LLC acquired a new position in Amentum in the 4th quarter valued at approximately $36,000. Finally, National Bank of Canada FI raised its holdings in shares of Amentum by 31,328.6% during the fourth 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. Institutional investors own 39.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMTM. Cantor Fitzgerald upgraded shares of Amentum to a "hold" rating in a research note on Tuesday, February 25th. Royal Bank of Canada set a $24.00 target price on Amentum and gave the company a "sector perform" rating in a research note on Wednesday. Truist Financial decreased their price objective on Amentum from $31.00 to $24.00 and set a "buy" rating on the stock in a report on Monday, April 14th. BTIG Research began coverage on shares of Amentum in a research report on Tuesday, April 15th. They set a "buy" rating and a $30.00 target price for the company. Finally, Morgan Stanley began coverage on Amentum in a report on Wednesday, April 16th. They set an "underweight" rating and a $19.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $25.38.

Amentum Stock Down 2.9%

Shares of NYSE:AMTM traded down $0.63 during midday trading on Friday, hitting $20.59. The company had a trading volume of 482,285 shares, compared to its average volume of 2,744,751. The firm has a fifty day simple moving average of $19.66 and a 200 day simple moving average of $21.38. 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 Holdings, Inc. has a 12 month low of $16.01 and a 12 month high of $34.47.

Amentum (NYSE:AMTM - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.05. The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.44 billion. As a group, equities research analysts expect that Amentum Holdings, Inc. will post 2.1 earnings per share for the current 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.