diff --git a/activerecord/lib/active_record/associations/builder/belongs_to.rb b/activerecord/lib/active_record/associations/builder/belongs_to.rb
index 5e18f0e16ff2fd396a50721762f470fde964db5d..fc00f1e900d7790cdd41027cb9ee433c79916d8a 100644
--- a/activerecord/lib/active_record/associations/builder/belongs_to.rb
+++ b/activerecord/lib/active_record/associations/builder/belongs_to.rb
@@ -81,12 +81,18 @@ def self.add_touch_callbacks(model, reflection)
         BelongsTo.touch_record(record, record.send(changes_method), foreign_key, n, touch, belongs_to_touch_method)
       }}
 
-      unless reflection.counter_cache_column
+      if reflection.counter_cache_column
+        touch_callback = callback.(:saved_changes)
+        update_callback = lambda { |record|
+          instance_exec(record, &touch_callback) unless association(reflection.name).target_changed?
+        }
+        model.after_update update_callback, if: :saved_changes?
+      else
         model.after_create callback.(:saved_changes), if: :saved_changes?
+        model.after_update callback.(:saved_changes), if: :saved_changes?
         model.after_destroy callback.(:changes_to_save)
       end
 
-      model.after_update callback.(:saved_changes), if: :saved_changes?
       model.after_touch callback.(:changes_to_save)
     end
 
diff --git a/activerecord/test/cases/associations/belongs_to_associations_test.rb b/activerecord/test/cases/associations/belongs_to_associations_test.rb
index 8b205f0b85fcf4453a162ba3c6551a164b1b1e82..1fca1be18128ee6bc7571cc23918604a65677cb9 100644
--- a/activerecord/test/cases/associations/belongs_to_associations_test.rb
+++ b/activerecord/test/cases/associations/belongs_to_associations_test.rb
@@ -616,8 +616,10 @@ def test_belongs_to_touch_with_reassigning
     debate.touch(time: time)
     debate2.touch(time: time)
 
-    reply.parent_title = "debate"
-    reply.save!
+    assert_queries(3) do
+      reply.parent_title = "debate"
+      reply.save!
+    end
 
     assert_operator debate.reload.updated_at, :>, time
     assert_operator debate2.reload.updated_at, :>, time
@@ -625,8 +627,10 @@ def test_belongs_to_touch_with_reassigning
     debate.touch(time: time)
     debate2.touch(time: time)
 
-    reply.topic_with_primary_key = debate2
-    reply.save!
+    assert_queries(3) do
+      reply.topic_with_primary_key = debate2
+      reply.save!
+    end
 
     assert_operator debate.reload.updated_at, :>, time
     assert_operator debate2.reload.updated_at, :>, time