Eastern Bank Sells 99,013 Shares of Amentum Holdings, Inc. (NYSE:AMTM)

Eastern Bank cut its stake in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 96.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,102 shares of the company's stock after selling 99,013 shares during the quarter. Eastern Bank's holdings in Amentum were worth $86,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AMTM. Wilmington Savings Fund Society FSB acquired a new stake in Amentum during the 3rd quarter valued at $790,000. Wharton Business Group LLC bought a new stake in shares of Amentum during the third quarter worth $2,106,000. Peak Asset Management LLC acquired a new stake in shares of Amentum in the third quarter valued at $774,000. JPMorgan Chase & Co. bought a new position in shares of Amentum in the third quarter valued at about $8,739,000. Finally, Tower Bridge Advisors acquired a new position in Amentum during the 3rd quarter worth about $4,053,000. Institutional investors and hedge funds own 39.93% of the company's stock.

Amentum Stock Up 1.7 %

AMTM stock traded up $0.40 during midday trading on Wednesday, reaching $23.60. The stock had a trading volume of 2,476,114 shares, compared to its average volume of 2,648,510. Amentum Holdings, Inc. has a twelve month low of $18.38 and a twelve month high of $34.50. The business's fifty day moving average price is $23.56.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Truist Financial began coverage on shares of Amentum in a research report on Monday, October 14th. They issued a "buy" rating and a $31.00 price objective for the company. Raymond James assumed coverage on shares of Amentum in a report on Thursday, November 21st. They issued an "outperform" rating and a $30.00 price target for the company. Finally, Royal Bank of Canada started coverage on shares of Amentum in a research report on Friday, January 10th. They issued a "sector perform" rating and a $24.00 price objective for the company.

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.