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RTX Corporation (RTX) Fell on Lowered Guidance

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. After a robust first half of the year, the S&P 500 Index declined 3.3% in the third quarter, leaving the market up 13.1% through the first nine months of 2023. On a relative basis, this year has not been good for the fund’s investment strategy. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Carillon Eagle Mid Cap Growth Fund highlighted stocks like RTX Corporation (NYSE:RTX) in the third quarter 2023 investor letter. Headquartered in Arlington, Virginia, RTX Corporation (NYSE:RTX) is an aerospace and defense company. On December 4, 2023, RTX Corporation (NYSE:RTX) stock closed at $83.13 per share. One-month return of RTX Corporation (NYSE:RTX) was 0.56%, and its shares lost 15.80% of their value over the last 52 weeks. RTX Corporation (NYSE:RTX) has a market capitalization of $119.533 billion.

Carillon Eagle Mid Cap Growth Fund made the following comment about RTX Corporation (NYSE:RTX) in its Q3 2023 investor letter:

"RTX Corporation (NYSE:RTX) lowered its free cash flow guidance for the year due to a new issue in its jet engine business. Although the company’s management has a solution, the total implementation cost remains unknown, which caused the stock to react negatively."

An aerial view of a commercial jetliner in flight, its airframe glinting in the sun.

RTX Corporation (NYSE:RTX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 63 hedge fund portfolios held RTX Corporation (NYSE:RTX) at the end of third quarter which was 56 in the previous quarter.

We discussed RTX Corporation (NYSE:RTX) in another article and shared Matrix Asset Advisors' views on the company. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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