Red Spruce Capital LLC Makes New Investment in Amentum Holdings, Inc. (NYSE:AMTM)

Red Spruce Capital LLC purchased a new stake in Amentum Holdings, Inc. (NYSE:AMTM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,083 shares of the company's stock, valued at approximately $254,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp acquired a new position in shares of Amentum in the 3rd quarter valued at $236,306,000. Primecap Management Co. CA acquired a new position in Amentum in the 3rd quarter worth $169,999,000. Geode Capital Management LLC acquired a new position in Amentum in the 3rd quarter worth $101,022,000. Ruane Cunniff & Goldfarb L.P. acquired a new position in Amentum in the 3rd quarter worth $81,608,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Amentum in the 3rd quarter worth $78,399,000. 39.93% of the stock is currently owned by institutional investors.

Amentum Trading Down 1.6 %

NYSE:AMTM traded down $0.37 during mid-day trading on Wednesday, hitting $23.22. The stock had a trading volume of 845,698 shares, compared to its average volume of 2,377,361. Amentum Holdings, Inc. has a twelve month low of $18.38 and a twelve month high of $34.50. The stock has a 50 day simple moving average of $22.98. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.57 and a current ratio of 1.57.

Amentum (NYSE:AMTM - Get Free Report) last issued its earnings results on Monday, December 16th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.10. Sell-side analysts forecast that Amentum Holdings, Inc. will post 2.1 earnings per share for the current year.

Analysts Set New Price Targets

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