Washington Trust Advisors Inc. Trims Holdings in Amentum Holdings, Inc. (NYSE:AMTM)

Washington Trust Advisors Inc. lowered its position in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 37.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,240 shares of the company's stock after selling 47,958 shares during the quarter. Washington Trust Advisors Inc.'s holdings in Amentum were worth $1,687,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AMTM. Wilmington Savings Fund Society FSB purchased a new position in shares of Amentum in the third quarter valued at about $790,000. Wharton Business Group LLC purchased a new stake in Amentum during the 3rd quarter valued at approximately $2,106,000. JPMorgan Chase & Co. bought a new stake in shares of Amentum during the third quarter valued at approximately $8,739,000. Peak Asset Management LLC purchased a new position in shares of Amentum in the third quarter worth $774,000. Finally, Foundations Investment Advisors LLC bought a new position in shares of Amentum during the fourth quarter worth $409,000. 39.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $24.00 price target on shares of Amentum in a report on Thursday, February 6th. Cantor Fitzgerald raised Amentum to a "hold" rating in a report on Tuesday, February 25th. Finally, Raymond James started coverage on Amentum in a research note on Thursday, November 21st. They set an "outperform" rating and a $30.00 price target for the company.

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Insider Buying and Selling at Amentum

In other news, insider Steven J. Demetriou purchased 100,000 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was purchased at an average cost of $20.81 per share, with a total value of $2,081,000.00. Following the purchase, the insider now owns 620,893 shares in the company, valued at approximately $12,920,783.33. This trade 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 available at this hyperlink. Also, Director Barbara Loughran acquired 4,600 shares of Amentum 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 transaction, the director now directly owns 4,600 shares in the company, valued at $97,658. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 18.67% of the company's stock.

Amentum Price Performance

Amentum stock traded down $1.37 during mid-day trading on Monday, reaching $18.62. 1,844,584 shares of the company's stock traded hands, compared to its average volume of 2,700,439. Amentum Holdings, Inc. has a 12-month low of $17.82 and a 12-month high of $34.47. 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 firm's 50 day moving average price is $21.16.

Amentum (NYSE:AMTM - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. Sell-side analysts forecast that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

Amentum Company 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.