Norges Bank Purchases New Stake in Amentum Holdings, Inc. (NYSE:AMTM)

Norges Bank acquired a new position in Amentum Holdings, Inc. (NYSE:AMTM) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,440,127 shares of the company’s stock, valued at approximately $30,286,000.

A number of other institutional investors have also recently bought and sold shares of the business. Anchor Investment Management LLC acquired a new stake in shares of Amentum during the third quarter worth approximately $32,000. Glen Eagle Advisors LLC purchased a new stake in Amentum in the 3rd quarter worth approximately $35,000. IFP Advisors Inc boosted its stake in shares of Amentum by 119.2% during the 4th quarter. IFP Advisors Inc now owns 1,532 shares of the company’s stock valued at $35,000 after buying an additional 833 shares during the period. Asset Planning Inc purchased a new position in shares of Amentum during the 4th quarter valued at $36,000. Finally, Horizon Investments LLC acquired a new position in shares of Amentum in the fourth quarter worth $36,000. 39.93% of the stock is currently owned by institutional investors and hedge funds.

Amentum Stock Down 5.0 %

Shares of NYSE:AMTM opened at $17.39 on Monday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.02. The business has a 50-day moving average of $19.55. Amentum Holdings, Inc. has a fifty-two week low of $16.90 and a fifty-two week high of $34.47.

Amentum (NYSE:AMTM) last announced its earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. On average, equities analysts predict that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Cantor Fitzgerald upgraded Amentum to a “hold” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group assumed coverage on Amentum in a research note on Thursday, March 20th. They issued a “neutral” rating and a $21.00 price target for the company. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 price objective on shares of Amentum in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $26.20.

Insider Activity at Amentum

In other Amentum news, 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 completion of the acquisition, the insider now directly owns 620,893 shares in the company, valued at $12,920,783.33. This represents a 19.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barbara Loughran acquired 4,600 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $21.23 per share, for a total transaction of $97,658.00. Following the purchase, the director now owns 4,600 shares of the company’s stock, valued at $97,658. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 18.67% of the stock is currently owned by company insiders.

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.