AMETEK (NYSE: AME) certainly isn't one of the most high-profile or glamorous stocks on the market, but who cares when the stock continues to set all-time highs? The stock prices of its fellow industrial companies Roper Technologies (NYSE: ROP) and Parker-Hannifin (NYSE: PH) are also close to their all-time highs. The question now is: What's going on in a sector that many believe is possibly entering a recession, and can the stock prices keep rising?
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Here's an example of what many commentators are fearful of. The chart shows the widely followed Institute for Supply Management business survey data -- a reading below 50 indicates contraction in the industrial economy.