Graco Inc. GGG currently boasts robust growth prospects on solid product portfolio, exposure in new markets, acquired assets and a sound capital-deployment strategy.Notably, the Zacks Rank #2 (Buy) company has a market capitalization of $12.1 billion. In the past three months, it has gained 21.6% compared with the industry’s growth of 20.1%.Let’s delve into the factors that make the company a smart choice for investors at the moment.Business Strength: Graco is poised to benefit from its strong presence in global markets, efficient management team, sound customer base and focus on keeping the production lines active. Also, solid demand for its products offered under its Contractor segment is anticipated to be beneficial for its top-line performance.Investments in Product Innovation: The company’s focus on investing in product innovation and capacity expansion bodes well for boosting its market share. Its plan to invest $85 million to roll out machinery and equipment in 2020, including $50 million for the expansion of facilities will be advantageous. In the long term, the company will gain from the exposure in new markets, product development, buyouts and end-user conversion.Rewards to Shareholders: It remains committed to rewarding shareholders through dividend payouts and share repurchases. In the first three quarters of 2020, the company paid out dividends worth $87.7 million, up 9.9% from the year-ago period. Also, in December 2020, it announced a 7.1% hike in its quarterly dividend rate. Moreover, in the first three quarters of this year, the company repurchased common stock worth $102.1 million, way higher than $5.1 million repurchased in the year-ago period.In the past 60 days, the Zacks Consensus Estimate for its 2020 earnings has trended up from $1.59 to $1.84 on seven upward estimate revisions against none downward. In addition, over the same timeframe, the consensus estimate for 2021 earnings has trended up from $1.85 to $2.08 on seven upward estimate revisions against none downward.Other Stocks to ConsiderSome other top-ranked stocks from the same space are EnPro Industries, Inc. NPO, Applied Industrial Technologies, Inc. AIT and Kaman Corporation KAMN. While EnPro currently sports a Zacks Rank #1 (Strong Buy), Applied Industrial and Kaman carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.EnPro delivered a positive earnings surprise of 279.71%, on average, in the trailing four quarters.Applied Industrial delivered a positive earnings surprise of 14.68%, on average, in the trailing four quarters.Kaman delivered a positive earnings surprise of 43.61%, on average, in the trailing four quarters.Biggest Tech Breakthrough in a GenerationBe among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.See 8 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Applied Industrial Technologies, Inc. (AIT): Free Stock Analysis Report Graco Inc. (GGG): Free Stock Analysis Report Kaman Corporation (KAMN): Free Stock Analysis Report EnPro Industries (NPO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research