AME Stock Summary and Trading Ideas (Ametek | NYSE:AME)

Ametek Inc is a diversified industrial conglomerate with over $6 billion in sales. The firm operates through an electronic instruments group and an electromechanical group. EIG designs and manufactures differentiated and advanced instruments for the process, aerospace, power, and industrial end markets, and generates major revenue. EMG is a focused, niche supplier of highly engineered automation solutions, thermal management systems, specialty metals, and electrical interconnects, among other products. The majority of the firm's sales are made in the United States. The firm's asset-light strategy in place for nearly two decades emphasizes growth through acquisitions, new product development through research and development, driving operational efficiencies, and global and market expansion.

Ametek trades on the NYSE stock market under the symbol AME.

As of September 12, 2024, AME stock price climbed to $167.28 with 379,404 million shares trading.

AME has a beta of 0.85, meaning it tends to be less sensitive to market movements. AME has a correlation of 0.27 to the broad based SPY ETF.

AME has a market cap of $38.72 billion. This is considered a Large Cap stock.

Last quarter Ametek reported $2 billion in Revenue and $1.66 earnings per share. This fell short of revenue expectation by $-45 million and exceeded earnings estimates by $.02.

In the last 3 years, AME stock traded as high as $186.33 and as low as $106.17.

The top ETF exchange traded funds that AME belongs to (by Net Assets): VTI, VOO, VO, SPY, IVV.

AME has underperformed the market in the last year with a price return of +9.7% while the SPY ETF gained +26.2%. AME has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -2.9% and -0.8%, respectively, while the SPY returned +4.4% and +0.1%, respectively.

AME support price is $163.32 and resistance is $167.20 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AME stock will trade within this expected range on the day.