ametek inc on friday said its board approved the repurchase of up to 1 billion in stock the berwyn pa maker of electronic instruments and electromechanical devices which has about 2311 million shares outstanding sports a market capitalization of roughly 294 billion based on thursdays closing price of 12217 ametek said the new buyback authorization replaces a 500 million program approved in february 2019 that had about 313 million remaining