Investors Are Buying Eaton's Stock Following Its Q4 Print: Here Is Why - Eaton Corp (NYSE:ETN)

Shares of Eaton Corporation, PLC Ordinary Shares

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(NYSE: ETN) were trading higher by nearly 5 percent early Wednesday morning after the company reported its

fourth quarter results.Eaton said that it earned $1.17 per share in the fourth quarter on revenue of $5.1 billion. Wall Street analysts were expecting the company to earn $1.10 per share on revenue of $5.1 billion.Eaton noted that its quarterly sales were lower by 9 percent year-over-year as organic revenue fell 4 percent while foreign exchange rates also impacted sales by 5 percent. Organic growth for the full fiscal year 2015 fell 2 percent and reflected the continued decline of end markets throughout the year.Eaton also detailed an acceleration and expansion of its restructuring actions. The company will expand its restructuring program with $96 million of additional spending, yielding an additional $108 million of benefits for the full year and $400 million over 3 years that will yield $418 million of cumulative benefits.Eaton added that in 2017 its restructuring program will yield $115 million of incremental profit from 2016's level.Finally, Eaton stated its Board of Directors will target $3 billion in share repurchases through 2018, inclusive of 2015 repurchases.