PNC Financial Services Group Inc. Sells 13,574 Shares of Amentum Holdings, Inc. (NYSE:AMTM)

PNC Financial Services Group Inc. reduced its position in Amentum Holdings, Inc. (NYSE:AMTM) by 31.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,748 shares of the company’s stock after selling 13,574 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Amentum were worth $626,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Amentum in the third quarter valued at approximately $790,000. JPMorgan Chase & Co. bought a new position in shares of Amentum in the third quarter valued at approximately $8,739,000. Foundations Investment Advisors LLC bought a new position in shares of Amentum in the fourth quarter valued at approximately $409,000. Oppenheimer Asset Management Inc. bought a new position in shares of Amentum in the third quarter valued at approximately $1,062,000. Finally, A. D. Beadell Investment Counsel Inc. boosted its position in shares of Amentum by 177.0% in the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 43,155 shares of the company’s stock valued at $907,000 after acquiring an additional 27,575 shares during the period. 39.93% of the stock is currently owned by institutional investors.

Amentum Stock Down 1.5 %

Shares of AMTM opened at $18.55 on Wednesday. Amentum Holdings, Inc. has a 1-year low of $16.95 and a 1-year high of $34.47. The company has a 50 day moving average of $20.64. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.02.

Amentum (NYSE:AMTM) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.45 by $0.06. On average, sell-side analysts anticipate that Amentum Holdings, Inc. will post 2.1 EPS for the current year.

Insiders Place Their Bets

In other news, insider Steven J. Demetriou bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were bought at an average cost of $20.81 per share, with a total value of $2,081,000.00. Following the completion of the purchase, 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 filing with the SEC, which is available at this link. Also, Director Barbara Loughran bought 4,600 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $21.23 per share, for a total transaction of $97,658.00. Following the completion of the purchase, the director now owns 4,600 shares of the company’s stock, valued at $97,658. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 18.67% of the company’s stock.

Wall Street Analyst Weigh In

AMTM has been the subject of a number of analyst reports. Cantor Fitzgerald upgraded shares of Amentum to a “hold” rating in a research report on Tuesday, February 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 target price on shares of Amentum in a research note on Thursday, February 6th. Finally, Raymond James initiated coverage on shares of Amentum in a research note on Thursday, November 21st. They issued an “outperform” rating and a $30.00 target price on the stock.

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.