NEW YORK ( TheStreet) -- Ametek (NYSE: AME) hit a new 52-week high Thursday as it is currently trading at $48.99, above its previous 52-week high of $48.88 with 135,845 shares traded as of 10:35 a.m. ET. Average volume has been 622,300 shares over the past 30 days.

Ametek has a market cap of $7.42 billion and is part of the industrial goods sector and industrial industry. Shares are up 13.9% year to date as of the close of trading on Wednesday.

AMETEK, Inc. manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. The company operates in two segments, Electronic Instruments Group and Electromechanical Group. The company has a P/E ratio of 20.2, below the average industrial industry P/E ratio of 20.7 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Ametek as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Ametek Ratings Report.

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