Corp merger & split back in 2020 - Raytheon (RTN) into Raytheon Technologies (RTX) (edit)

leonard kearney

i have an ongoing issue where Q tells me i have an out of sync situation between RAYTHEON company(RTN) and RATHEON Technologies corp. (RTX). Schwab says it is quickens issue.

[EDIT] - background info added here -

Raytheon Technologies Corporation (NYSE: RTX) announced the successful completion of the all-stock merger of equals transaction between Raytheon Company and United Technologies
Corporation on April 3, 2020, following the completion by United
Technologies of its previously announced spin-offs of its Carrier and
Otis businesses.

Quicken Jasmine

Hello @leonard kearney,

Thank you for reaching out to the Quicken Community, though I do apologize that you are experiencing this issue.

If you don’t mind, could you please provide a screenshot of the error message you described receiving? If needed, please refer to this Community FAQ for instructions on how to attach a screenshot. Alternatively, you can also drag and drop screenshots to your response if you are not given the option to add attachments. Please remember to redact any personal information as needed.

I look forward to your response.

Ps56k2

Guessing you have both of these stocks in your Schwab brokerage account ?

If so - to see any differences in Quicken, display your Schwab account -
in the upper right corner, click on the "Gear" - scroll down and click on → Reconcile Shares -

ALSO - look at your Schwab account in Quicken - in Account List (right click) —> Edit Account Details -
in lower left area - does it show "Simple" or "Complete" tracking ?

MontanaKarl

@leonard kearney Your Schwab rep no doubt explained to you that Raytheon /RTN ceased trading in 2020 after the merger of Raytheon (RTN) and United Technologies (UTX) to form Ratheon Technologies (RTX).

If you have any RTN showing in Quicken, then you must not have handled the merger properly in 2020. Any RTN position would be replaced with an RTX position. Your Schwab statements for the time will give the exact conversion numbers.

If you only had RTN (and not UTX), and didn't buy or sell any RTX after the merger, correcting this should be relatively easy. But, it is indeed an issue that has to be manually adjusted in Quicken back-dated to the merger.

Some background from one quick Google:

https://www.streetinsider.com/Corporate%2BNews/United%2BTechnologies%2B%28UTX%29%2Band%2BRaytheon%2B%28RTX%29%2BComplete%2BMerger%2Bof%2BEquals%2BTransaction/16706123.html

q_lurker

I presented my thoughts on how the investor should treat that series of transactions here:

https://community.quicken.com/discussion/7875091/my-approach-to-utx-otis-carr-rtn-rtx

I have not reviewed that discussion this evening. Ask any pertinent questions. If you can quote applicable portions, that will help alleviate misunderstandings.

The Quicken Corporate Spinoff action has changed since my comments were first posted some 3 years ago. But even with the older approach, the spinoff action requires the spinoff to be a new (not currently in Quicken) security. That frequently causes users some trouble when attempting that after other downloads have been accepted. That issue is best avoided by spinning off a differently named security and then editing transactions accordingly.

I never rely on downloads from a financial institution to properly represent these types of events in my Quicken file. What that means for you 3 years after the fact is up to you.

Ps56k2

I have updated the topic title to better reflect the actual Q&A being discussed -
along with adding a beginning posting paragraph of the actual background info …