Is Raytheon (RTX) a Great Long-Term Investment?

Carillon Tower Advisers, an investment management firm, published its “Carillon Eagle Growth & Income Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. The Carillon Family of Funds spans a range of investment objectives and asset classes designed for long-term investors.  Along with the spike in oil prices, energy stocks performed best during the quarter, followed by more defensive and countercyclical sectors like utilities and consumer staples. The fund continues to see a somewhat balanced outlook for equity market returns. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Carillon Eagle Growth & Income Fund mentioned Raytheon Technologies Corporation (NYSE:RTX) and explained its insights for the company. Founded in 2020, Raytheon Technologies Corporation (NYSE:RTX) is a Waltham, Massachusetts-based aerospace and defense company with a $142.9 billion market capitalization. Raytheon Technologies Corporation (NYSE:RTX) delivered an 11.68% return since the beginning of the year, while its 12-month returns are up by 11.47%. The stock closed at $96.11 per share on June 30, 2022.

Here is what Carillon Eagle Growth & Income Fund has to say about Raytheon Technologies Corporation (NYSE:RTX) in its Q1 2022 investor letter:

“Raytheon (NYSE:RTX) outperformed along with other defense contractors on rising geopolitical concerns. Military sales account for more than half of revenue. Key franchise programs include the Patriot Missile and F-35 engine, which have provided visible support through most of the decade.”

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Our calculations show that Raytheon Technologies Corporation (NYSE:RTX) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Raytheon Technologies Corporation (NYSE:RTX) was in 51 hedge fund portfolios at the end of the first quarter of 2022, compared to 50 funds in the previous quarter. Raytheon Technologies Corporation (NYSE:RTX) delivered a -2.99% return in the past 3 months.

In April 2022, we also shared another hedge fund’s views on Raytheon Technologies Corporation (NYSE:RTX) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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