Quantitative Equity Analyst, DMA

Charlotte van Tiddens, CFA

Quantitative Equity Analyst

Technology-First Company

DMA is a technology-first company that provides an end-to-end SaaS solution to institutional investors. DMA enables regulated entities like asset managers, wealth managers, investment managers and financial advisors to connect their front and back office, break silos and reduce headcount.

Quantitative Analysis

<ul>
<li>Short duration US factor strategies outperformed in September as markets came under pressure (value and dividend yield).</li>
<li>Despite keeping rates unchanged on the 20th of September at 5.5% (upper bound), Fed Chair Powell indicated that rates would be kept higher for longer than initially anticipated.</li>
<li>In this note we explore the relative performance of US factor strategies through different interest rate cycles, to inform timing around factor/style rotation.</li>
</ul>


Short duration US factor strategies outperformed in September as markets came under pressure (value and dividend yield).
Despite keeping rates unchanged on the 20th of September at 5.5% (upper bound), Fed Chair Powell indicated that rates would be kept higher for longer than initially anticipated.
In this note we explore the relative performance of US factor strategies through different interest rate cycles, to inform timing around factor/style rotation.


US Factor Strategies: Value and Dividend Yield Outperform in September, Higher for Longer Narrative

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>In the first quarter of 2026, Emerson effectively balanced its strategic initiatives and operational execution, reflected in a mix of both promising advancements and ongoing challenges.</li><li>Their results provide insights into the company's strategic directions, strengths, and areas that may warrant investor scrutiny.</li><li>Emerson reported robust growth with underlying orders increasing by 9%, showcasing substantial demand in longer-cycle projects, particularly in power, LNG, and IT growth verticals.</li></ul>

In the first quarter of 2026, Emerson effectively balanced its strategic initiatives and operational execution, reflected in a mix of both promising advancements and ongoing challenges.Their results provide insights into the company's strategic directions, strengths, and areas that may warrant investor scrutiny.Emerson reported robust growth with underlying orders increasing by 9%, showcasing substantial demand in longer-cycle projects, particularly in power, LNG, and IT growth verticals.

Emerson Electric’s Global Balancing Act: Explosive Growth in India, Resilience in the Americas!

<ul><li>Emerson Electric Manufacturing Company concluded its fiscal year 2025 with a mixed performance, marked by both achievements and challenges.</li><li>Financially, Emerson reported $1.62 in adjusted earnings per share for the fourth quarter, aligning with its expectations.</li><li>For the full year, adjusted earnings per share increased by 9% to $6, while free cash flow rose 12% year-over-year, reaching $3.24 billion.</li></ul>

Emerson Electric Manufacturing Company concluded its fiscal year 2025 with a mixed performance, marked by both achievements and challenges.Financially, Emerson reported $1.62 in adjusted earnings per share for the fourth quarter, aligning with its expectations.For the full year, adjusted earnings per share increased by 9% to $6, while free cash flow rose 12% year-over-year, reaching $3.24 billion.

Emerson Electric’s Bold Power Play: Tapping Into a New Energy Supercycle!

<ul><li>Emerson exhibited a mixed performance in its third quarter of 2025, attributed to both strategic advancements and external conditions impacting the overall business environment.</li><li>The company's underlying sales growth was modest, up by 3%, driven mainly by its process and hybrid businesses that grew at 3.5%, whereas discrete businesses posted a 2% growth year-over-year.</li><li>Order growth was particularly notable in the Test & Measurement segment, which increased by 16%, signaling a recovery in that market.</li></ul>

Emerson exhibited a mixed performance in its third quarter of 2025, attributed to both strategic advancements and external conditions impacting the overall business environment.The company's underlying sales growth was modest, up by 3%, driven mainly by its process and hybrid businesses that grew at 3.5%, whereas discrete businesses posted a 2% growth year-over-year.Order growth was particularly notable in the Test & Measurement segment, which increased by 16%, signaling a recovery in that market.

Emerson Electric: Accelerating Innovation With Game-Changing Test & Measurement Wins!

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Encouraging developments continue to pour in. Over the past week we have seen dramatic improvements that could be setting the stage for a broad-based advance. We highlight these improvements in this report, along with what we would like to see in order to have confidence in labeling this a bull market.  In today’s report we also highlight attractive Groups and stocks within Energy, Financials, Manufacturing, and Technology: Refining, Banks, Super-Regional, Industrial, Diversified, Large-Cap, and Data Storage Solutions &amp; Devices, Large-Cap.

Encouraging developments continue to pour in. Over the past week we have seen dramatic improvements that could be setting the stage for a broad-based advance. We highlight these improvements in this report, along with what we would like to see in order to have confidence in labeling this a bull market.  In today’s report we also highlight attractive Groups and stocks within Energy, Financials, Manufacturing, and Technology: Refining, Banks, Super-Regional, Industrial, Diversified, Large-Cap, and Data Storage Solutions &amp; Devices, Large-Cap.

U.S. Equity Strategy: Dramatic Improvement

United States

Emerson Electric Co. designs and manufactures electronic and electrical equipment, software, systems and services for industrial, commercial and consumer markets worldwide through its network power, process management, industrial automation, climate technologies and commercial & residential solutions divisions.

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Emerson Electric Co (EMR US)

US Factor Strategies: Value and Dividend Yield Outperform in September, Higher for Longer Narrative

US rates and factor strategies: higher for longer likely to drive outperformance of short duration factor strategies, long US value short US growth.

DMA

Emerson Electric’s Global Balancing Act: Explosive Growth in India, Resilience in the Americas!

In the first quarter of 2026, Emerson effectively balanced its strategic initiatives and operational execution, reflected in a mix of both...

Baptista Research

Emerson Electric’s Bold Power Play: Tapping Into a New Energy Supercycle!

Emerson Electric Manufacturing Company concluded its fiscal year 2025 with a mixed performance, marked by both achievements and...

Baptista Research

Emerson Electric: Accelerating Innovation With Game-Changing Test & Measurement Wins!

Emerson exhibited a mixed performance in its third quarter of 2025, attributed to both strategic advancements and external conditions impacting...

Baptista Research

U.S. Equity Strategy: Dramatic Improvement

Encouraging developments continue to pour in. Over the past week we have seen dramatic improvements that could be setting the stage for a...

Vermilion Research

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