Pittenger & Anderson Inc. Has $528,000 Stock Holdings in On Holding AG (NYSE:ONON)

Pittenger & Anderson Inc. lifted its holdings in shares of On Holding AG (NYSE:ONON) by 426.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 10,530 shares of the company’s stock after acquiring an additional 8,530 shares during the period. Pittenger & Anderson Inc.’s holdings in ON were worth $528,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ONON. Blue Trust Inc. boosted its position in ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after buying an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of ON by 210.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. Quarry LP bought a new stake in ON during the 2nd quarter worth $32,000. MFA Wealth Advisors LLC acquired a new position in ON in the 3rd quarter worth about $50,000. Finally, Asset Dedication LLC raised its position in ON by 25.8% in the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock valued at $62,000 after purchasing an additional 327 shares during the last quarter. 33.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on ONON shares. Piper Sandler boosted their price target on ON from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Bank of America raised shares of ON from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $21.00 to $55.00 in a report on Monday, September 23rd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $47.00 price target on shares of ON in a research note on Tuesday, August 13th. TD Cowen boosted their price objective on shares of ON from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, Barclays raised their target price on ON from $40.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $50.05.

ON Trading Up 3.4 %

Shares of NYSE ONON opened at $47.88 on Wednesday. The firm’s 50-day moving average price is $48.67 and its 200-day moving average price is $42.24. The firm has a market capitalization of $30.15 billion, a P/E ratio of 90.34 and a beta of 2.25. On Holding AG has a 1-year low of $24.15 and a 1-year high of $52.80.

ON (NYSE:ONON) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). ON had a return on equity of 13.02% and a net margin of 7.42%. The firm had revenue of $627.66 million during the quarter, compared to the consensus estimate of $634.43 million. Equities research analysts forecast that On Holding AG will post 0.76 EPS for the current year.

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.