Eaton Corporation plc (NYSE:ETN) is looking for acquisitions. Tom Okray, Eaton's Chief Financial Officer, said "we prefer investing in our business for growth, and we prefer M&A, quite frankly. We would rather have a great acquisition than buy back shares.

So we guided $200 million to $300 million buybacks, which is a reasonable number. I understand the question and understand where it comes from, but we're more focused on looking at good acquisitions to use that cash".