Graco Inc. ( GGG ) recently introduced a remote reporting technology named Graco InSite through which contractors can view activity from multiple job sites in different locations. Graco InSite is a data tracking and collection kit for electric and hydraulic reactors. The data is transmitted from a Graco Reactor proportioner through cellular network and can be viewed on a smartphone, tablet or computer.
With Graco InSite, the contractors can access information like the confirmation of the crew starting on time, verification of spray parameters, material usage and similar other information that can be accessed virtually from anywhere.
Graco InSite collects data from the user's connected jobsites and emails the user a daily report. The contractors can then effectively utilize these data. It helps users to determine the real costs of doing business in terms of manpower and materials and identify wastage in business.
Moving forward, Graco expects to continuously invest in its businesses to diversify and expand its product portfolio to augment its position in the market.
Headquartered in Minneapolis, MN, Graco supplies technology for management of fluids in both industrial and commercial applications. The company designs, manufactures, and markets systems that move, measure, control, dispense, and apply fluid materials. The company's key growth drivers include development and marketing of new products, expansion of the global distribution network, foraying into new markets with technology and channel expansion.
Graco currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth considering now are Dover Corp. ( DOV ), Colfax Corp. ( CFX ) and I ngersoll-Rand Plc. ( IR ), each carrying a Zacks Rank #2 (Buy).