Emerson Reports Solid End to Fiscal 2017 as North American Automation Markets Lead Recovery
Following a solid close to fiscal 2017, we expect to increase our fair value estimate for wide-moat Emerson by $1 to $2 as we update our model to incorporate full fiscal 2017 financials. Fiscal fourth-quarter revenue increased 13% year over year to $4.4 billion, reflecting 3% organic sales growth, some modest benefit from foreign exchange, and the remainder from acquisitions. Automation Solutions grew sales organically by 3%, with North America expanding sales by 10% year over year on higher cap...Rockwell Automation is a provider of industrial automation and digital transformation. The company's segments include: Architecture and Software, which contains automation and information platforms, including hardware and software; and Control Products and Solutions, which combines motor control and industrial control products, other solutions and a portfolio of lifecycle services. The company's automation platform products include programmable automation controllers, design, networking products, sensing devices, machine safety devices, motion control products, and independent cart technology products. The company's information platform includes manufacturing execution system software and analytics software.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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