ITT Inc., Stanley Black & Decker Inc, Textron Inc, among others, are the industrials stocks approaching important price targets.

Here's an update with information from the last trading session: Leading equity indices in the US declined as after dropping 1.08%, Dow Jones closed at 33,700. S&P 500 was down 1.16% before closing the session at 4,119.58.

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. Let's review some industrials stocks and their price targets.

ITT bounces $1.22 from key support at $82.57

ITT Inc.'s run now faces a challenge at $82.57, which is only $1.22 away and will be interesting to follow.

Though in the midst of a 5 day uptrend, gaining a total of 3.43%, ($3.97), yesterday's session suggests run might be coming to an end — after ending Monday at $85, ITT dropped to $82.56 early in yesterday's session and closed at $83.79. In total, it lost 1.4%. ITT's recent uptrend could be petering out after the company eclipsed its average daily volume of 383,343 by 105% today.

Stanley Black & Decker (SWK) Price target: $84.35 | Last price: $85.49 | Daily range: $84.44 – $86.81

After ending Monday at $86.78, Stanley Black & Decker declined to $84.44 yesterday before closing at $85.49, thereby losing 1.49% in total. Yesterday's down move comes on the back of a 5 day uptrend, during which Stanley Black & Decker added $9.52 to its value. Stanley Black & Decker's recent uptrend could be petering out after the company eclipsed its average daily volume of 1.47 million by 123% today.

The household hardware company has fallen back around 33.7% from the significant high of $130.89 set 11 months ago. The company's market cap currently stands at $13 billion with an average daily volume of 1.47 million shares. The S&P has been doing worse in 2022, it has been passing it by 3.75%.

Stanley Black & Decker could begin to recover as it approaches significant support, now $1.14 away from $84.35. Dipping below could be an indication that further losses are ahead.

Buyers pushing Textron towards its price target of $67.97; currently at $67.39

After dipping down to $65.88, Textron regained earlier losses and closed at $67.39. Yesterday's gains added to Textron's bullish trend that has lasted for 5 days so far, during which it increased a total of $1.49. Daily trading volume (2.10 million shares) increased, making up 137% of the 21-day average (1.53 million).

The US industrial conglomerate is now trading 11.46% below the significant high of $75.73 it set around 2 months ago. Textron's market cap is currently $13.59 billion with an average daily trading volume of 1.53 million shares. So far this year, it has been doing worse than the S&P by 12.35%.

Textron's recent run now faces a major challenge as concentrated supply is likely found at $67.97 with price action currently 58 cents away.

Textron disclosed a quarterly dividend of 2 cents per share on Wednesday, February 22nd that was paid on Saturday, April 1st to all shareholders of record up until Friday, March 10th. Based on current prices, the company's decision thereby provides Textron investors with an annual dividend yield of 0.119%.