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Graco (GGG) Introduces GLC X Controller & Auto Lube App

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Graco Inc. (GGG - Free Report) recently unveiled the GLC X automatic lubrication controller and Auto Lube app.  Given its strong differentiating capabilities for several lubrication metrics, the GLC X controller helps in simplifying automatic lubrication tasks.

Leveraging the Auto Lube app in smartphone or tablets, the GLC X controller’s Bluetooth compatibility allows its operators and maintenance crew to keep track of various lubrication metrics. These include pressure, levels, configurations and others. As noted by the company, the controller is capable of operating across diverse operating environments that ranges from industrial plants to heavy-duty construction sites.

The GLC X controller enables its operators to capture larger details, thus allowing them to take appropriate and quick decisions, in turn boosting productivity. The Graco Auto Lube app is available on Google Play and the App Store free of cost.

Notably, the launch is consistent with Graco’s policy of investing in product innovation. The company’s investment in machinery and equipment is likely to have been around $35 million in 2019 (results are awaited), while that in building projects to boost distribution and production capacity might have been in the range of $100-$105 million. In October 2019, it launched Sealed 4-Ball Plus Lower pumps. In the long term, the company anticipates gaining from exposure in new markets, product development, global expansion, buyouts and end-user conversion.

Graco, with $8.8-billion market capitalization, currently carries a Zacks Rank #2 (Buy). Analysts have become increasingly bullish about the company over the past 30 days. Its earnings estimates for 2020 have increased from $1.86 to $1.87 on the back of one upward estimate revision against none downward.

In the past three months, the company’s shares have returned 16.9% compared with the industry’s growth of 13.3%.

Other Key Picks

Some other top-ranked stocks from the same space are IDEX Corporation (IEX - Free Report) , Chart Industries, Inc. (GTLS - Free Report) and Parker-Hannifin Corporation (PH - Free Report) . All these companies carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

IDEX delivered positive earnings surprise of 3.26%, on average, in the trailing four quarters.

Chart Industries delivered positive earnings surprise of 4.01%, on average, in the trailing four quarters.

Parker-Hannifin delivered positive earnings surprise of 5.29%, on average, in the trailing four quarters.

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