Pay attention to the following industrials stocks approaching critical price targets: Caterpillar, Boeing, The Timken Company are the ones to watch.

Here's an update with information from the last trading session: Leading equity indices in the US declined as after dropping 0.66%, Nasdaq closed at 11,379. S&P 500 closed at 3,951.39, a 0.47% change.

What is a Price Target?

A "price target" is an estimate of the future price of a stock based on earnings forecasts and assumed valuation multiples. Price targets are typically generated by respected market analysts who believe a stock to be fairly valued relative to its projected and historical earnings. Target prices are used to evaluate stocks and can help investors evaluate the potential risk/reward profile of a stock. Check out this rundown of industrials stocks and their price targets.

Buyers pushing Caterpillar towards its price target of $251.72; currently at $248.67

Caterpillar's recent run now faces a major challenge as concentrated supply is likely found at $251.72 with price action currently $3.05 away.

Caterpillar has posted further gains as part of a 4 day trend that has already seen the stock gain $3.38. yesterday continued on the same track for Caterpillar — after closing yesterday at $248.67, the construction equipment, diesel and natural gas engines manufacturer peaked at $249.7 before giving up early gains and closing at $248.67. Daily trading volume (4 million shares) was slightly above the current multiday average of 3.60 million.

Buyers pushing Boeing towards its price target of $206.37; currently at $204.55

Boeing's run now faces a challenge at $206.37, which is only $1.82 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.

Boeing has posted further gains as part of a 4 day trend that has already seen the stock gain $3.4. yesterday's session pointed in the same direction — pronounced bullish sentiment in the market helped the aircraft and rotorcraft manufacturer to make a notable 1.49% gain yesterday, rising $3 and ultimately closing at $204.55. The day's trading volume totalled 4.37 million shares — slightly under the 21-day average of 5.42 million.

Buyers pushing Timken towards its price target of $87.25; currently at $86.26

It will be interesting to follow how Timken's run now faces a challenge at $87.25, which is only 99 cents away.

After 10 days of level trading, Timken went up. yesterday's session shows improvement: the power transmission product maker went up to $86.26, gaining 0.95%. Yesterday's trading volume was 511,472 shares which is slightly under the 21-day average of 711,743.