Watts Gwilliam & Co. LLC Has $3.58 Million Stock Position in On Holding AG (NYSE:ONON)

Watts Gwilliam & Co. LLC boosted its stake in shares of On Holding AG (NYSE:ONON) by 3.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 64,830 shares of the company’s stock after purchasing an additional 2,330 shares during the quarter. Watts Gwilliam & Co. LLC’s holdings in ON were worth $3,584,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Diversified Trust Co acquired a new stake in shares of ON in the fourth quarter worth $995,000. Central Pacific Bank Trust Division grew its stake in ON by 12.7% during the 4th quarter. Central Pacific Bank Trust Division now owns 10,333 shares of the company’s stock valued at $566,000 after acquiring an additional 1,161 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of ON by 96.5% in the 3rd quarter. Principal Financial Group Inc. now owns 101,784 shares of the company’s stock valued at $5,104,000 after purchasing an additional 49,995 shares during the period. Lord Abbett & CO. LLC lifted its position in shares of ON by 338.3% in the third quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock worth $29,834,000 after purchasing an additional 459,157 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of ON during the third quarter worth approximately $259,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ONON shares. BTIG Research upgraded shares of ON from a “neutral” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Wednesday, November 13th. The Goldman Sachs Group increased their price objective on ON from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Williams Trading raised ON from a “hold” rating to a “buy” rating and upped their target price for the stock from $40.00 to $60.00 in a research report on Wednesday, November 13th. TD Cowen lifted their price target on ON from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday. Finally, UBS Group restated a “buy” rating and issued a $63.00 price objective on shares of ON in a report on Friday, December 27th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.86.

ON Price Performance

ONON opened at $55.54 on Friday. On Holding AG has a fifty-two week low of $26.03 and a fifty-two week high of $60.12. The company has a market capitalization of $34.97 billion, a P/E ratio of 129.17 and a beta of 2.30. The firm’s fifty day moving average price is $54.94 and its two-hundred day moving average price is $47.97.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.