Wells Fargo & Company MN Sells 182,557 Shares of Amentum Holdings, Inc. (NYSE:AMTM)

Wells Fargo & Company MN cut its position in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 67.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,561 shares of the company's stock after selling 182,557 shares during the period. Wells Fargo & Company MN's holdings in Amentum were worth $1,883,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in Amentum during the third quarter valued at approximately $790,000. JPMorgan Chase & Co. purchased a new stake in Amentum during the 3rd quarter worth about $8,739,000. Foundations Investment Advisors LLC purchased a new position in shares of Amentum during the fourth quarter worth about $409,000. A. D. Beadell Investment Counsel Inc. lifted its holdings in shares of Amentum by 177.0% in the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 43,155 shares of the company's stock valued at $907,000 after purchasing an additional 27,575 shares during the last quarter. Finally, Cacti Asset Management LLC purchased a new position in Amentum during the 4th quarter worth approximately $18,386,000. 39.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amentum

In related news, Director Barbara Loughran purchased 4,600 shares of Amentum stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $21.23 per share, for a total transaction of $97,658.00. Following the transaction, the director now directly owns 4,600 shares in the company, valued at approximately $97,658. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Steven J. Demetriou purchased 100,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was bought at an average cost of $20.81 per share, for a total transaction of $2,081,000.00. Following the purchase, the insider now owns 620,893 shares in the company, valued at $12,920,783.33. This trade represents a 19.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 18.67% of the stock is currently owned by insiders.

Amentum Stock Performance

Shares of AMTM traded up $0.31 during mid-day trading on Thursday, reaching $22.13. 160,688 shares of the company's stock traded hands, compared to its average volume of 2,457,379. Amentum Holdings, Inc. has a 12 month low of $16.01 and a 12 month high of $34.50. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.59 and a current ratio of 1.59. The business's 50-day moving average price is $18.83 and its 200-day moving average price is $22.23.

Amentum (NYSE:AMTM - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. Equities research analysts forecast that Amentum Holdings, Inc. will post 2.1 earnings per share for the current year.

Analyst Ratings Changes

AMTM has been the topic of a number of research reports. Cantor Fitzgerald upgraded shares of Amentum to a "hold" rating in a research report on Tuesday, February 25th. Truist Financial dropped their target price on Amentum from $31.00 to $24.00 and set a "buy" rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group started coverage on Amentum in a research report on Thursday, March 20th. They issued a "neutral" rating and a $21.00 target price for the company. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $24.00 price target on shares of Amentum in a report on Thursday, February 6th. Finally, BTIG Research started coverage on shares of Amentum in a report on Tuesday, April 15th. They issued a "buy" rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $24.71.

Amentum Company 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.