On Holding AG (NYSE:ONON) Stock Holdings Trimmed by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. trimmed its position in On Holding AG (NYSE:ONON - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,097 shares of the company's stock after selling 6,242 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in ON were worth $2,853,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp lifted its position in ON by 1.8% during the third quarter. State Street Corp now owns 228,847 shares of the company's stock valued at $11,477,000 after buying an additional 4,152 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of ON during the 3rd quarter valued at $259,000. Lord Abbett & CO. LLC boosted its position in ON by 338.3% during the 3rd 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 during the period. Principal Financial Group Inc. increased its holdings in 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 in the last quarter. Finally, Central Pacific Bank Trust Division raised its position in ON by 12.7% in the fourth quarter. Central Pacific Bank Trust Division now owns 10,333 shares of the company's stock valued at $566,000 after purchasing an additional 1,161 shares during the period. 36.39% of the stock is owned by institutional investors and hedge funds.

ON Stock Up 3.2 %

ONON stock traded up $1.38 during mid-day trading on Wednesday, reaching $44.01. The company had a trading volume of 3,016,998 shares, compared to its average volume of 4,652,819. The stock's 50-day simple moving average is $45.84 and its two-hundred day simple moving average is $51.62. The stock has a market capitalization of $27.71 billion, a P/E ratio of 102.45, a P/E/G ratio of 1.02 and a beta of 2.32. On Holding AG has a one year low of $29.84 and a one year high of $64.05.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. HSBC upgraded ON from a "hold" rating to a "buy" rating and set a $58.00 target price on the stock in a report on Tuesday, March 11th. Bank of America assumed coverage on shares of ON in a report on Tuesday, January 7th. They set a "buy" rating and a $73.00 price target for the company. Hsbc Global Res raised shares of ON from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 11th. Williams Trading raised their target price on ON from $60.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Finally, Barclays increased their price target on ON from $63.00 to $64.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.00.

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.