Here’s Why Matrix Asset Advisors Invested in RTX Corporation (RTX)

Matrix Asset Advisors, an asset management company, released its third-quarter 2023 investor letter. A copy of the same can be downloaded here. In Q3, the Federal Reserve increased interest rates by 0.25%, which caused a sell-off in the stock market. The S&P 500 fell 3.27% in Q3 due to higher interest rates, economic slowdown, labor strikes, and budget impasse. Compared to the S&P 500 and Russell 1000 Value Index declines, Matrix’s Large Cap Value Portfolio experienced a slightly smaller...