Hohimer Wealth Management LLC Acquires New Position in On Holding AG $ONON

Hohimer Wealth Management LLC bought a new stake in On Holding AG (NYSE:ONON) during the third quarter, HoldingsChannel.com reports. The firm bought 37,576 shares of the company’s stock, valued at approximately $1,113,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ONON. Pinnacle Wealth Planning Services Inc. raised its holdings in shares of ON by 5,181.2% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 845 shares of the company’s stock worth $25,000 after buying an additional 829 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of ON by 69.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 760 shares of the company’s stock worth $26,000 after buying an additional 312 shares during the last quarter. Ascentis Independent Advisors bought a new stake in shares of ON during the 1st quarter worth $34,000. Guardian Partners Inc. acquired a new stake in ON in the third quarter valued at about $41,000. Finally, Signaturefd LLC boosted its stake in ON by 29.5% in the third quarter. Signaturefd LLC now owns 1,598 shares of the company’s stock valued at $47,000 after buying an additional 364 shares in the last quarter. Institutional investors own 36.39% of the company’s stock.

Insider Transactions at ON

In other news, insider Olivier Bernhard acquired 65,000 shares of the stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $30.67 per share, with a total value of $1,993,550.00. Following the completion of the purchase, the insider directly owned 5,228,184 shares of the company’s stock, valued at $160,348,403.28. This represents a 1.26% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Caspar Coppetti acquired 65,000 shares of the stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $30.67 per share, with a total value of $1,993,550.00. Following the purchase, the chief executive officer directly owned 2,440,855 shares of the company’s stock, valued at $74,861,022.85. This trade represents a 2.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

ON Trading Up 0.1%

Shares of ONON stock opened at $37.38 on Tuesday. The firm has a market capitalization of $23.86 billion, a P/E ratio of 26.27, a P/E/G ratio of 0.76 and a beta of 2.05. On Holding AG has a twelve month low of $26.36 and a twelve month high of $51.08. The company has a quick ratio of 2.25, a current ratio of 2.83 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $31.67 and its 200 day simple moving average is $36.47.

ON (NYSE:ONON) last issued its earnings results on Tuesday, August 11th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.09 billion. ON had a return on equity of 22.92% and a net margin of 12.09%. ON’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) EPS. As a group, sell-side analysts predict that On Holding AG will post 1.50 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ONON shares. Telsey Advisory Group decreased their target price on ON from $51.00 to $43.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 12th. Truist Financial dropped their target price on shares of ON from $48.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. BMO Capital Markets restated a “market perform” rating and issued a $35.00 price target on shares of ON in a research note on Wednesday, October 28th. UBS Group reiterated a “buy” rating on shares of ON in a research report on Wednesday, September 23rd. Finally, KeyCorp reissued an “overweight” rating on shares of ON in a research note on Monday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.73.

ON Profile