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June 11, 2018, 7:34 a.m. EDT

Rockwell Automation boosts stock buyback program to $1.5 billion

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By Tomi Kilgore

Rockwell Automation Corp. /zigman2/quotes/206335564/composite ROK +1.70% said it will add $300 million to its stock buyback program, to lift its target for repurchases to $1.5 billion for fiscal 2018. Earlier, Rockwell said it would make a $1 billion equity investment in PTC Inc. /zigman2/quotes/202034776/composite PTC -0.11% as part of a strategic partnership. "Our decision to increase our share repurchase target for 2018, together with our strategic investment in PTC announced earlier today, reflects our commitment to value-creating capital allocation," said Rockwell Chief Executive Blake Moret. The stock, which was still inactive in premarket trade, has lost 9.3% year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.39% has gained 3.9%.

/zigman2/quotes/206335564/composite
US : U.S.: NYSE
$ 169.19
+2.83 +1.70%
Volume: 975,036
Oct. 18, 2019 6:30p
P/E Ratio
19.81
Dividend Yield
2.29%
Market Cap
$19.80 billion
Rev. per Employee
$292,183
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/zigman2/quotes/202034776/composite
US : U.S.: Nasdaq
$ 64.38
-0.07 -0.11%
Volume: 1.37M
Oct. 18, 2019 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$7.42 billion
Rev. per Employee
$207,715
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/zigman2/quotes/210599714/realtime
US : S&P US
2,986.20
-11.75 -0.39%
Volume: 1.99B
Oct. 18, 2019 5:08p
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