MILWAUKEE--(BUSINESS WIRE)--Rockwell Automation, Inc. (NYSE: ROK) today announced that it has increased the Company’s share repurchase target for Fiscal Year 2018 to $1.5 billion. This represents a $300 million increase to the Company’s previous plans to repurchase $1.2 billion in fiscal year 2018.
Blake D. Moret, Chairman and Chief Executive Officer, commented, "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. Our Connected Enterprise strategy generates strong, sustainable cash flow, which we will continue to use for reinvestment in the business, acquisitions, dividends, and share repurchases.”
About Rockwell Automation (NYSE: ROK)
Rockwell Automation, Inc., the world’s largest company dedicated to industrial automation and information, makes its customers more productive and the world more sustainable. Headquartered in Milwaukee, Wis., Rockwell Automation employs approximately 22,000 people serving customers in more than 80 countries.
This news release contains statements (including certain projections and business trends, the development of solutions and the closing of the transaction) that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Words such as “believe”, “estimate”, “project”, “plan”, “expect”, “anticipate”, “will”, “intend” and other similar expressions may identify forward-looking statements. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These forward-looking statements reflect our beliefs as of the date of filing this release. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.