EMR Continues to Execute Very Well
EMR executed very well again in Q318 with broad-based demand strength for the Automation business driving organic revenue growth of 8% YoY. Rolling 3-month organic orders through June were strong (+9% YoY, Automation +12%). FY19 is already shaping up well for EMR, albeit fairly reflected in the current PE multiple (~20x FY19E). Thus, we remain at Neutral.Emerson Electric is a company that brings technology and engineering together to provide solutions for customers in a range of industrial, commercial and consumer markets around the world. The company 's segments are: Automation Solutions, which provides measurement and analytical instrumentation, valves, actuators and regulators, industrial solutions, and process control systems and solutions; Climate Technologies, which provides products and services for residential heating and cooling, commercial air conditioning, commercial and industrial refrigeration, and cold chain management; and Tools and Home Products, which provides tools for personnel and homeowners and appliance solutions.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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