Rockwell Collins (COL) Raises Buyback By $500M

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Rockwell Collins, Inc. (NYSE: COL) authorized the company to purchase an additional $500 million of Rockwell Collins common stock. With this announcement, the amount of share repurchases authorized available as of February 7, 2013 was $604 million.

"This additional authorization demonstrates the Board of Directors continued confidence in our long-term ability to generate cash flow. Consistent with our capital deployment strategy focused on enhancing shareowner value, we expect to maintain an active share repurchase program," said Patrick Allen, senior vice president and chief financial officer for Rockwell Collins. "This additional authorization is expected to meet all share repurchase plans for the balance of fiscal year 2013 and into 2014."

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