Gabelli Has Hold on Donaldson

Gabelli & Co. is out with a research report on Donaldson Co Inc

and it has a Hold rating on shares. In a note to clients, Gabelli & Co. writes, "1Q12 earnings show strong cost containment. Industrial Filtration margins were particularly impressive, expanding 120bps to a record 16% despite Thailand-related weakness in disk drive filter sales along with Gas Turbine filtration system timing issues that kept sales flat year over year. Engine segment performance was also solid, with strong aftermarket sales driving operating profit margin 90bps higher to 15.4%." Shares of DCI closed at $65.69 yesterday.