Donaldson Company, Inc. DCI is well-poised for growth, driven by a diversified business structure with exposure in various geographies, a strong product portfolio, solid demand and a focus on innovation despite supply-chain issues, raw material inflation and foreign currency woes. Increased levels of equipment utilization across the end markets and market share gains in less mature geographies are aiding its Aftermarket business. In the quarters ahead, the Aerospace and defense business are expected to perform well, supported by improved commercial aerospace market conditions.Donaldson has been strengthening and expanding its businesses through asset additions for a while. Its Purilogics, LLC (June 2022) buyout strengthened DCI’s life sciences portfolio by leveraging Purilogics’ unique product offerings. The acquisition of Solaris Biotechnology (in November 2021) strengthened its presence across several end markets, including food and beverage, biopharma and other major life sciences. Also, DCI acquired Pearson Arnold Industrial Services in the same month.DCI’s measures to reward its shareholders through dividend payments and share buybacks are encouraging. During fiscal 2022 (ended July 2022), Donaldson paid out dividends worth $110.1 million and repurchased shares worth $170.6 million. DCI also announced a hike of 4.5% in its quarterly dividend rate in May 2022.In light of the above-mentioned positives, we believe, investors should hold on to the Donaldson stock for now, as is suggested by its current Zacks Rank #3 (Hold).In the past three months, the stock has rallied 5% compared with the industry’s increase of 3.3%.Image Source: Zacks Investment ResearchStocks to ConsiderSome better-ranked companies from the Industrial Products sector are discussed below:Applied Industrial Technologies, Inc. AIT presently has a Zacks Rank #1 (Strong Buy) and a trailing four-quarter earnings surprise of 22.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.AIT’s earnings estimates have increased 5.1% for fiscal 2023 (ending June 2023) in the past 60 days. Its shares have risen 18.1% in the past three months.IDEX Corporation IEX presently has a Zacks Rank #2. IEX’s earnings surprise in the last four quarters was 4.6%, on average.In the past 60 days, IDEX’s earnings estimates have increased 0.1% for 2022. The stock has rallied 11.7% in the past three months.Eaton Corporation plc ETN presently has a Zacks Rank of 2. ETN’s earnings surprise in the last four quarters was 1.4%, on average.In the past 60 days, Eaton’s earnings estimates have increased 0.1% for 2022. The stock has rallied 11.5% in the past three months. This Little-Known Semiconductor Stock Could Be Your Portfolio’s Hedge Against Inflation Everyone uses semiconductors. But only a small number of people know what they are and what they do. If you use a smartphone, computer, microwave, digital camera or refrigerator (and that’s just the tip of the iceberg), you have a need for semiconductors. That’s why their importance can’t be overstated and their disruption in the supply chain has such a global effect. But every cloud has a silver lining. Shockwaves to the international supply chain from the global pandemic have unearthed a tremendous opportunity for investors. And today, Zacks' leading stock strategist is revealing the one semiconductor stock that stands to gain the most in a new FREE report. It's yours at no cost and with no obligation.>>Yes, I Want to Help Protect My Portfolio During the RecessionWant 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 Eaton Corporation, PLC (ETN): Free Stock Analysis Report Applied Industrial Technologies, Inc. (AIT): Free Stock Analysis Report IDEX Corporation (IEX): Free Stock Analysis Report Donaldson Company, Inc. (DCI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research