Rockwell Automation Approves $2B Stock Buyback
Ticker: ROK · Form: 8-K · Filed: Feb 6, 2025 · CIK: 1024478
Sentiment: bullish
Topics: stock-repurchase, shareholder-return, board-approval
Related Tickers: ROK
TL;DR
ROK just authorized a massive $2B stock buyback, signaling confidence.
AI Summary
On February 4, 2025, Rockwell Automation, Inc. announced that its Board of Directors has approved a new stock repurchase program, authorizing the repurchase of up to $2.0 billion of its common stock. This program is effective immediately and will continue until the authorized amount is fully utilized or the program is terminated by the Board.
Why It Matters
This significant stock repurchase program signals management's confidence in the company's financial health and its belief that its stock is undervalued, potentially boosting shareholder value.
Risk Assessment
Risk Level: low — The filing is a routine announcement of a stock repurchase program, which is a common corporate action and does not inherently introduce new risks.
Key Numbers
- $2.0B — Stock Repurchase Authorization (Amount authorized for buyback of common stock.)
Key Players & Entities
- Rockwell Automation, Inc. (company) — Registrant
- $2.0 billion (dollar_amount) — Authorized stock repurchase amount
- February 4, 2025 (date) — Date of Board approval
- Board of Directors (company) — Approving body
FAQ
What is the total amount authorized for Rockwell Automation's new stock repurchase program?
The Board of Directors has authorized the repurchase of up to $2.0 billion of its common stock.
When did the new stock repurchase program become effective?
The program is effective immediately as of February 4, 2025.
What is the duration of the stock repurchase program?
The program will continue until the authorized amount is fully utilized or the program is terminated by the Board.
Who approved the new stock repurchase program?
The new stock repurchase program was approved by Rockwell Automation's Board of Directors.
What is the primary purpose of a stock repurchase program?
Stock repurchase programs are typically undertaken when a company believes its stock is undervalued and to return capital to shareholders.
Filing Stats: 608 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2025-02-06 16:35:57
Key Financial Figures
- $1.00 — ange on which registered Common Stock ($1.00 par value) ROK New York Stock Exchange
Filing Documents
- rok-20250206.htm (8-K) — 36KB
- 0001024478-25-000006.txt ( ) — 159KB
- rok-20250206.xsd (EX-101.SCH) — 2KB
- rok-20250206_lab.xml (EX-101.LAB) — 22KB
- rok-20250206_pre.xml (EX-101.PRE) — 12KB
- rok-20250206_htm.xml (XML) — 3KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. a. The annual meeting of shareowners of the Company was held on February 4, 2025. The final results of each of the matters submitted to a vote of shareowners at the annual meeting are set forth below. b. At the annual meeting, the shareowners: i. voted to elect four directors of the Company for a term expiring at the annual meeting in 2028. Each nominee was elected by a vote of the shareowners as follows: Affirmative Votes Votes Withheld Broker Nonvotes James P. Keane 73,247,163 12,957,612 10,180,980 Blake D. Moret 76,065,071 10,139,704 10,180,980 Thomas W. Rosamilia 75,677,718 10,527,057 10,180,980 Patricia A. Watson 75,642,482 10,562,293 10,180,980 ii. voted on a proposal to approve on an advisory basis the compensation of the Company's named executive officers as set forth in the Company's proxy statement for the February 4, 2025, annual meeting with the approval of approximately 86% of the votes cast. The proposal was approved on an advisory basis by a vote of the shareowners as follows: Affirmative votes 74,033,351 Negative votes 10,723,681 Abstentions 1,447,743 Broker Nonvotes 10,180,980 iii. voted on a proposal to approve the selection by the Audit Committee of the Company's Board of Directors of the firm of Deloitte & Touche LLP as the Company's independent registered public accounting firm for fiscal year 2025. The proposal was approved by a vote of the shareowners as follows: Affirmative votes 89,208,322 Negative votes 6,643,330 Abstentions 534,103 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ROCKWELL AUTOMATION, INC. (Registrant) By /s/ R EBECCA W. H OUSE Rebecca W. House Senior Vice President, Chief People and Legal Officer and Secretary Date: February 6, 2025