Central Pacific Bank Trust Division Increases Position in On Holding AG (NYSE:ONON)

Central Pacific Bank Trust Division increased its stake in shares of On Holding AG (NYSE:ONON) by 12.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,333 shares of the company’s stock after buying an additional 1,161 shares during the period. Central Pacific Bank Trust Division’s holdings in ON were worth $566,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ONON. Private Trust Co. NA purchased a new stake in shares of ON in the 3rd quarter worth about $26,000. Blue Trust Inc. raised its position in ON by 319.8% during the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after acquiring an additional 403 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of ON by 210.5% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of ON in the third quarter valued at approximately $29,000. Finally, Quarry LP purchased a new position in shares of ON during the 2nd quarter worth approximately $32,000. 36.39% of the stock is currently owned by institutional investors and hedge funds.

ON Trading Up 2.3 %

Shares of ON stock opened at $56.62 on Friday. On Holding AG has a twelve month low of $25.78 and a twelve month high of $60.12. The stock has a market cap of $35.65 billion, a price-to-earnings ratio of 131.68 and a beta of 2.30. The company has a fifty day moving average price of $54.62 and a 200 day moving average price of $47.64.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. KeyCorp increased their target price on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Piper Sandler lifted their price objective on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group boosted their target price on shares of ON from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC began coverage on shares of ON in a research note on Friday, November 22nd. They set a “buy” rating and a $64.00 price target on the stock. Finally, Bank of America raised shares of ON from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $21.00 to $55.00 in a research report on Monday, September 23rd. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.77.

ON Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.