Lord Abbett & CO. LLC Has $29.83 Million Stock Position in On Holding AG (NYSE:ONON)

Lord Abbett & CO. LLC raised its position in On Holding AG (NYSE:ONON) by 338.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 594,901 shares of the company’s stock after buying an additional 459,157 shares during the period. Lord Abbett & CO. LLC’s holdings in ON were worth $29,834,000 as of its most recent SEC filing.

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

ON Trading Down 0.5 %

Shares of ON stock opened at $57.30 on Monday. The stock’s fifty day simple moving average is $52.63 and its 200 day simple moving average is $46.28. The company has a market capitalization of $36.08 billion, a PE ratio of 133.26 and a beta of 2.30. On Holding AG has a 12 month low of $25.78 and a 12 month high of $60.12.

Analyst Ratings Changes

Several equities research analysts have weighed in on ONON shares. Bank of America upgraded shares of ON from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $21.00 to $55.00 in a research report on Monday, September 23rd. The Goldman Sachs Group increased their price target 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. Truist Financial boosted their price objective on shares of ON from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Telsey Advisory Group reiterated an “outperform” rating and issued a $53.00 price objective on shares of ON in a research report on Tuesday, November 12th. Finally, KeyCorp boosted their target price on ON from $47.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.38.

ON Company 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.