Franklin Resources Inc. Has $53.22 Million Stake in On Holding AG $ONON

Franklin Resources Inc. grew its holdings in On Holding AG (NYSE:ONON) by 5.0% during the second quarter, Holdings Channel.com reports. The firm owned 1,022,424 shares of the company’s stock after acquiring an additional 48,942 shares during the period. Franklin Resources Inc.’s holdings in ON were worth $53,217,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Legal & General Group Plc raised its holdings in shares of ON by 53.7% in the second quarter. Legal & General Group Plc now owns 93,256 shares of the company’s stock valued at $4,854,000 after buying an additional 32,578 shares during the last quarter. Y.D. More Investments Ltd grew its holdings in ON by 2.4% during the 2nd quarter. Y.D. More Investments Ltd now owns 51,900 shares of the company’s stock worth $2,701,000 after acquiring an additional 1,200 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in ON by 1.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 56,618 shares of the company’s stock valued at $2,947,000 after acquiring an additional 564 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of ON by 3.6% in the second quarter. Cetera Investment Advisers now owns 50,046 shares of the company’s stock worth $2,605,000 after acquiring an additional 1,742 shares during the last quarter. Finally, Carl P. Sherr & Co. LLC lifted its position in shares of ON by 9.8% during the second quarter. Carl P. Sherr & Co. LLC now owns 11,200 shares of the company’s stock worth $583,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 36.39% of the company’s stock.

ON Stock Up 2.3%

Shares of ON stock opened at $41.74 on Wednesday. On Holding AG has a 12 month low of $34.38 and a 12 month high of $64.05. The business has a fifty day simple moving average of $41.40 and a 200 day simple moving average of $47.84. The company has a quick ratio of 2.05, a current ratio of 2.55 and a debt-to-equity ratio of 0.28. The stock has a market cap of $26.21 billion, a PE ratio of 54.21, a price-to-earnings-growth ratio of 2.39 and a beta of 2.18.

Wall Street Analyst Weigh In

Several analysts have recently commented on ONON shares. Truist Financial decreased their price target on shares of ON from $69.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. Evercore ISI decreased their price objective on ON from $68.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. Barclays dropped their target price on ON from $69.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, November 13th. Bank of America upped their price target on ON from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, Needham & Company LLC lowered their price objective on ON from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.38.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, all-day activities, and tennis. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own stores.