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

PNC Financial Services Group Inc. reduced its position in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 31.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,748 shares of the company's stock after selling 13,574 shares during the period. 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 made changes to their positions in the company. US Bancorp DE purchased a new stake in Amentum during the third quarter worth about $30,000. Principal Financial Group Inc. purchased a new stake in Amentum during the third quarter worth about $4,695,000. Atria Investments Inc purchased a new stake in Amentum during the third quarter worth about $478,000. State of New Jersey Common Pension Fund D purchased a new stake in Amentum during the third quarter worth about $1,398,000. Finally, Sumitomo Mitsui Trust Group Inc. purchased a new stake in Amentum during the third quarter worth about $1,238,000. 39.93% of the stock is owned by institutional investors.

Insider Activity

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

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Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMTM shares. Royal Bank of Canada restated a "sector perform" rating and set a $24.00 price objective on shares of Amentum in a report on Thursday, February 6th. The Goldman Sachs Group started coverage on shares of Amentum in a report on Thursday. They set a "neutral" rating and a $21.00 price objective for the company. Finally, Cantor Fitzgerald upgraded shares of Amentum to a "hold" rating in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $26.20.

Amentum Price Performance

Shares of AMTM traded up $0.01 during trading hours on Friday, hitting $18.33. The company's stock had a trading volume of 3,774,136 shares, compared to its average volume of 2,778,734. 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 company has a 50 day moving average price of $20.44. Amentum Holdings, Inc. has a 52-week low of $16.95 and a 52-week high of $34.47.

Amentum (NYSE:AMTM - Get Free Report) last posted its earnings results 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 analysts expect that Amentum Holdings, Inc. will post 2.1 EPS for the current year.

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.