Caterpillar, Lennox International Inc., L3harris Technologies Inc, among others, are the industrials stocks approaching important price targets.
Here's an update with information from the last trading session: Markets completed a mixed session yesterday, as Nasdaq closed the day at 11,200, having gained 0.45%. Dow Jones was down 0.28% before closing the session at 31,819.
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.
Caterpillar active price target: $221.38; currently at $224.7
The construction and mining equipment manufacturer has recovered almost all of its session losses after dipping down to $221.54 yesterday. Caterpillar has been on a downtrend for 7 days, losing $28.3, with yesterday's session adding to the run. Daily trading volume (4.86 million shares) increased, making up 164% of the 21-day average (2.96 million).
The construction equipment, diesel and natural gas engines manufacturer has fallen back around 14.19% over the past a month, from a notable high of $264.54. The company has a market cap of $116 billion with an average daily trading volume of 2.96 million shares. So far this year, it has been under-performing the Dow by 1.75%. $16.60 billion was Caterpillar's last reported revenue with $4.27 being the current EPS.
A persuasive break of this target could lead to higher losses.
Lennox International now at $244.1 | Forthcoming price target: $6.91 lower at $237.19
$237.19 is only $6.91 away for Lennox International and might put a stop to its current downtrend.
Having fallen $17.05 in 7 days, more of the same from yesterday's session: the climate control specialist has recovered almost all of its session losses after dipping down to $240.06 yesterday. Daily trading volume (415,246 shares) was above the current multiday average of 250,763.
L3Harris (LHX) Price target: $199.94 | Last price: $201.35 | Daily range: $200.16 – $203.19
After ending Friday at $203.37, L3Harris Technologies declined to $200.16 yesterday before closing at $201.35, thereby losing 0.99% in total. Continuing its a 7 day bearish run (-$10.79), L3Harris showed losses yesterday. Daily trading volume (1.29 million shares) was slightly above the current multiday average of 1 million.
L3Harris Technologies hit a significant low of $191.45 around a month ago, but has since recovered 6.23%. The company's market cap currently stands at $38.27 billion with an average daily volume of 1 million shares. So far this year, it has been doing worse than the S&P 500 by 3.49%. L3Harris expected revenue of $4.63 billion with an EPS of $3.26.
L3Harris's bearish trend is facing a possible turning point at $199.94, which is only $1.41 away. Will be interesting to follow.
Regarding dividends, the company's quarterly dividend yield now stands at 2.26% after L3Harris Technologies's board disclosed a dividend of $1.14 per share on Friday, February 24th to be paid on Friday, March 24th for all shareholders of record up until Friday, March 10th.