Amentum Holdings, Inc. (NYSE:AMTM) Stock Holdings Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in Amentum Holdings, Inc. (NYSE:AMTM) by 18.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 712,172 shares of the company’s stock after purchasing an additional 110,123 shares during the quarter. Principal Financial Group Inc. owned approximately 0.29% of Amentum worth $12,962,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMTM. Charles Schwab Investment Management Inc. lifted its position in shares of Amentum by 66.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,264,257 shares of the company’s stock worth $26,587,000 after buying an additional 503,741 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Amentum in the fourth quarter worth about $1,504,000. Amundi acquired a new stake in shares of Amentum in the fourth quarter worth about $277,000. EverSource Wealth Advisors LLC lifted its position in shares of Amentum by 22.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,978 shares of the company’s stock worth $84,000 after buying an additional 730 shares during the last quarter. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Amentum in the fourth quarter worth about $52,000. Institutional investors and hedge funds own 39.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Bank of America began coverage on Amentum in a research report on Tuesday, June 10th. They issued a “neutral” rating and a $24.00 price target for the company. Truist Financial cut their price objective on Amentum from $31.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Morgan Stanley began coverage on Amentum in a research report on Wednesday, April 16th. They set an “underweight” rating and a $19.00 price objective for the company. The Goldman Sachs Group began coverage on Amentum in a research report on Thursday, March 20th. They set a “neutral” rating and a $21.00 price objective for the company. Finally, BTIG Research began coverage on Amentum in a research report on Tuesday, April 15th. They set a “buy” rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Amentum has an average rating of “Hold” and a consensus target price of $25.22.

Amentum Stock Down 1.4%

AMTM opened at $23.68 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.56 and a current ratio of 1.56. Amentum Holdings, Inc. has a 1 year low of $16.01 and a 1 year high of $34.47. The stock’s 50 day simple moving average is $22.21 and its 200-day simple moving average is $20.84.

Amentum (NYSE:AMTM) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.05. The firm had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.44 billion. On average, analysts expect that Amentum Holdings, Inc. will post 2.1 earnings per share 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.