Allianz Asset Management GmbH Takes Position in Amentum Holdings, Inc. (NYSE:AMTM)

Allianz Asset Management GmbH purchased a new stake in Amentum Holdings, Inc. (NYSE:AMTM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 38,700 shares of the company’s stock, valued at approximately $704,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in Amentum by 18.3% during the first quarter. Principal Financial Group Inc. now owns 712,172 shares of the company’s stock valued at $12,962,000 after acquiring an additional 110,123 shares during the period. Amalgamated Bank grew its holdings in shares of Amentum by 12.3% in the 1st quarter. Amalgamated Bank now owns 43,366 shares of the company’s stock worth $789,000 after purchasing an additional 4,756 shares during the last quarter. KBC Group NV grew its holdings in shares of Amentum by 14.3% in the 1st quarter. KBC Group NV now owns 7,339 shares of the company’s stock worth $134,000 after purchasing an additional 918 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Amentum in the 1st quarter worth about $615,000. Finally, New York State Teachers Retirement System grew its holdings in shares of Amentum by 11.6% in the 1st quarter. New York State Teachers Retirement System now owns 138,486 shares of the company’s stock worth $2,520,000 after purchasing an additional 14,364 shares during the last quarter. Institutional investors own 39.93% of the company’s stock.

Amentum Price Performance

Shares of AMTM stock opened at $24.18 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.56 and a current ratio of 1.56. The company’s 50 day moving average price is $23.25 and its two-hundred day moving average price is $21.16. Amentum Holdings, Inc. has a 52 week low of $16.01 and a 52 week high of $34.50.

Amentum (NYSE:AMTM) last announced its earnings results on Tuesday, May 6th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.48 by $0.05. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.44 billion. Equities research analysts forecast that Amentum Holdings, Inc. will post 2.1 earnings per share for the current year.

Wall Street Analyst Weigh In

AMTM has been the topic of a number of research analyst reports. Bank of America initiated coverage on shares of Amentum in a report on Tuesday, June 10th. They set a “neutral” rating and a $24.00 price objective on the stock. Citizens Jmp assumed coverage on shares of Amentum in a research note on Monday, May 12th. They issued an “outperform” rating and a $30.00 target price on the stock. Morgan Stanley assumed coverage on shares of Amentum in a research report on Wednesday, April 16th. They issued an “underweight” rating and a $19.00 price target on the stock. BTIG Research assumed coverage on shares of Amentum in a research report on Tuesday, April 15th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Truist Financial increased their price target on shares of Amentum from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Amentum currently has a consensus rating of “Hold” and an average price target of $25.89.

Amentum 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.