{"id":37075,"date":"2023-07-18T01:10:17","date_gmt":"2023-07-18T05:10:17","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/raytheon-changed-its-name-that-wont-help-the-stock\/"},"modified":"2023-07-18T01:10:19","modified_gmt":"2023-07-18T05:10:19","slug":"raytheon-changed-its-name-that-wont-help-the-stock","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=37075","title":{"rendered":"Raytheon Changed Its Name. That Won’t Help the Stock."},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n<\/figure><\/div>\n

What\u2019s in a name? It\u2019s an age-old question asked by everyone, even Barron\u2019s<\/em>. <\/p>\n

\n Raytheon Technologies
\n (ticker: RTX) is no longer
\n Raytheon Technologies.<\/span>
\n It\u2019s RTX. The change happened Monday. <\/p>\n

Why the name change isn\u2019t certain. RTX didn\u2019t respond to a request for comment. <\/p>\n

\n

Longer names have outperformed shorter names lately in the stock market lately. The average return of the shortest quintile of names in the
\n S&P 500
\n is about 15% over the past year. The longest names have returned about 19%. The return of the average stock in the S&P is also about 19%. <\/p>\n

Companies with three-letter names, or shorter, have done even worse than the shortest quintile. The average for two or three-letter names is a woeful 3%. That list includes
\n 3M
\n (MMM) and
\n AT&T
\n (T), though the & could count as another letter. <\/p>\n

RTX is now joining the list of three-letter companies. Its shares have returned less than 10% over the past 12 months. Investors are optimistic about the aerospace business as travel recovers from pandemic-induced lows, but defense stocks haven\u2019t been as strong. <\/p>\n

\n Airbus
\n (AIR.France) shares have returned about 30% over the past 12 months. Shares of
\n Northrop Grumman
\n (NOC) have returned just about zero. <\/p>\n

The one thing RTX has going for it is a three-letter ticker. Longer stock symbols, or tickers, have outperformed shorter ones this past year. Three-letter tickers in the S&P 500 have returned about 17% on average over the past 12 months. One-letter ticker stocks have been terrible, returning about 2%. <\/p>\n

The best are four or five- letter tickers. They have returned 25% over the past 12 months. It probably doesn\u2019t hurt that
\n Apple
\n (AAPL),
\n Nvidia
\n (NVDA),
\n Tesla
\n (TSLA),
\n Amazon.com
\n (AMZN),
\n Microsoft
\n (MSFT)
\n Meta Platforms
\n (META), and
\n Alphabet
\n (GOOGL) all have four-letter tickers. Those seven have returned almost 60% on average over the past 12 months. <\/p>\n

If there is an investing lesson in this the single letter stock tickers tend to be taken by older firms including
\n AT&T,<\/span><\/p>\n

Macy\u2019s
\n (M,) and
\n United States Steel
\n (X). The market wants new technology these days. Those three have returned roughly zere over the past 12 months with a big gain from U.S. Steel offset by losses at AT&T. <\/p>\n

It\u2019s probably a bad idea to invest based on a corporation\u2019s name or the length of its stock symbol. In the end, the only thing to note from Monday\u2019s news is that Raytheon has a new name.<\/p>\n

Write to Al Root at allen.root@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

What\u2019s in a name? It\u2019s an age-old question asked by everyone, even Barron\u2019s. Raytheon Technologies (ticker: RTX) is no longer Raytheon Technologies. It\u2019s RTX. The change happened Monday. Why the name change isn\u2019t certain. RTX didn\u2019t respond to a request for comment. Longer names have outperformed shorter names lately in the stock market lately. The […]<\/p>\n","protected":false},"author":1,"featured_media":37076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-37075","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nRaytheon Changed Its Name. That Won't Help the Stock. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"What\u2019s in a name? It\u2019s an age-old question asked by everyone, even Barron\u2019s. 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