PNC Financial Services Group Inc. Decreases Stock Holdings in Amentum Holdings, Inc. (NYSE:AMTM)

PNC Financial Services Group Inc. lowered its stake in Amentum Holdings, Inc. (NYSE:AMTM) by 31.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Arizona State Retirement System boosted its holdings in Amentum by 8.3% in the fourth quarter. Arizona State Retirement System now owns 38,835 shares of the company’s stock valued at $817,000 after acquiring an additional 2,961 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Amentum in the fourth quarter valued at $1,504,000. Smithfield Trust Co bought a new stake in Amentum in the fourth quarter valued at $155,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Amentum by 66.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,264,257 shares of the company’s stock valued at $26,587,000 after buying an additional 503,741 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in shares of Amentum during the 4th quarter valued at $778,000. Institutional investors own 39.93% of the company’s stock.

Insider Buying and Selling

In other Amentum news, insider Steven J. Demetriou bought 100,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was acquired at an average price of $20.81 per share, with a total value of $2,081,000.00. Following the transaction, the insider now 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Barbara Loughran bought 4,600 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $21.23 per share, with a total value of $97,658.00. Following the transaction, the director now owns 4,600 shares in the company, valued at $97,658. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 18.67% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on AMTM. Raymond James began coverage on shares of Amentum in a report on Thursday, November 21st. They set an “outperform” rating and a $30.00 target price on the stock. Cantor Fitzgerald upgraded shares of Amentum to a “hold” rating in a report on Tuesday, February 25th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $24.00 target price on shares of Amentum in a report on Thursday, February 6th.

Amentum Trading Down 1.5 %

Shares of Amentum stock opened at $18.55 on Wednesday. The stock has a 50-day moving average price of $20.64. Amentum Holdings, Inc. has a 1 year low of $16.95 and a 1 year high of $34.47. 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 announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. Equities analysts expect that Amentum Holdings, Inc. will post 2.1 EPS for the current 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.