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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 -0.11% 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 +1.98% 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 +0.48% has gained 3.9%.

/zigman2/quotes/206335564/composite
US : U.S.: NYSE
$ 216.16
-0.24 -0.11%
Volume: 2.94M
May 29, 2020 4:00p
P/E Ratio
35.63
Dividend Yield
1.89%
Market Cap
$25.04 billion
Rev. per Employee
$292,183
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/zigman2/quotes/202034776/composite
US : U.S.: Nasdaq
$ 76.38
+1.48 +1.98%
Volume: 920,551
May 29, 2020 4:00p
P/E Ratio
234.44
Dividend Yield
N/A
Market Cap
$8.84 billion
Rev. per Employee
$207,715
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/zigman2/quotes/210599714/realtime
US : S&P US
3,044.31
+14.58 +0.48%
Volume: 4.38B
May 29, 2020 5:14p
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