With Moody’s Turning Positive On Consumer Durables Stocks, Here Are 5 That Billionaires Are Bullish On

#3 AMETEK, Inc. (NYSE:AME)

— Number of Billionaires With Shares (as of June 30): 8

— Total Value of Billionaires’ Holdings (as of June 30): $380.39 million

The ownership of AMETEK, Inc. (NYSE:AME) among the billionaire investors in our system remained unchanged during the second quarter. One of the billionaire-led hedge funds that initiated a stake in AMETEK, Inc. (NYSE:AME) during the quarter was Dan Loeb‘s Third Point, which purchased 2.7 million shares of the company. After trading in a range for two years starting in 2014, AMETEK’s stock broke below the lower-end of that range earlier this year and has lost almost 12% of its value in 2016. On August 4, the company reported its second quarter results, declaring EPS of $0.59 on revenue of $977.77 million, which met analysts’ EPS estimate, but fell $6.96 million short on the revenue front. Following the earnings release, several analysts lowered their target price on the stock, including analysts at Stifel Nicolaus, who lowered their target price on AMETEK to $50 from $56 while keeping their rating on the stock unchanged at ‘Buy’.

#2 Ball Corporation (NYSE:BLL)

— Number of Billionaires With Shares (as of June 30): 8

— Total Value of Billionaires’ Holdings (as of June 30): $392.22 million

Moving on, Ball Corporation (NYSE:BLL) saw a significant rise in its popularity among the billionaire investors that we follow during the second quarter, as a net total of three more held the stock, while the aggregate value of their positions jumped by 218.6%. The increase in popularity is noteworthy because it happened during a period when Ball Corporation (NYSE:BLL)’s stock remained flat. The only notable thing concerning Ball Corporation that took place during the second quarter was the company winning U.S. antitrust approval from the FTC for its merger with Rexam on June 28, on the condition that the companies sell eight aluminum can plants. Last month Ball Corporation’s stock spiked by more than 15% after the company reported its second quarter results. While its revenue of $2.03 billion missed analysts’ consensus projection by $140 million, the EPS of $1.06 that it declared was $0.06 more than what analysts had projected. Shares of Ball Corporation are 6.1% in the green this year.

#1 Goodyear Tire & Rubber Co (NASDAQ:GT)

— Number of Billionaires With Shares (as of June 30): 9

— Total Value of Billionaires’ Holdings (as of June 30): $493.05 million

Amid a 22.2% drop in its stock during the second quarter, the ownership of Goodyear Tire & Rubber Co (NASDAQ:GT) among the billionaire investors covered by us increased by one and the aggregate value of their holdings in it climbed by 12%. Billionaire investors that initiated a stake in the company during the period included Bruce Kovner (Caxton Associates) and David Tepper (Appaloosa Management). Goodyear Tire’s stock has managed to recoup a large portion of the loss it suffered last quarter, but is still trading down by 9.14% year-to-date. Nevertheless, several analysts who track the stock are confident that it can perform well in the coming months and end 2016 in the green. Of the ten leading analysts and research firms on Wall Street who track the Goodyear, seven have a ‘Buy’ rating on it, including analysts at Deutsche Bank, who upped their rating on the stock to ‘Buy’ from ‘Hold’ on September 6, while keeping their price target on it unchanged at $37. For its fiscal year 2017 third quarter, analysts are expecting Goodyear Tire to report EPS of $1.21 on revenue of $4.02 billion. For the same quarter of its previous fiscal year, the company managed EPS of $0.99 on revenue of $4.18 billion.

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