What Happened?

Shares of electronic products manufacturer AMETEK (NYSE: AME) jumped 8.1% in the morning session after the company reported third-quarter financial results that beat Wall Street's expectations and raised its full-year guidance. The electronic products manufacturer announced revenue of $1.89 billion for the quarter, an increase of 10.8% year-on-year and ahead of analyst forecasts. The company's profitability was also a bright spot, as adjusted earnings rose 13.9% from the prior year's third quarter to $1.89 per share, comfortably exceeding estimates. Buoyed by the strong performance, AMETEK increased its full-year outlook, updating its expected adjusted earnings per share to a new range of $7.32 to $7.37.

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What Is The Market Telling Us

AMETEK’s shares are not very volatile and have only had 4 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.

AMETEK is up 11.6% since the beginning of the year, and at $199.11 per share, has set a new 52-week high. Investors who bought $1,000 worth of AMETEK’s shares 5 years ago would now be looking at an investment worth $2,028.

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