Meantime, Cramer said he's "making a stand" on Eaton's stock.
The U.S. manufacturer of power products and systems tempered its full-year profit forecast on Tuesday due to weaker margins in its electrical systems business and dented some Wall Street hopes for a near-term spin-off of its vehicle business.
Read MoreEaton tempers profit view, dents hopes for vehicle spin-off
Goldman Sachs, Deutsche Bank and JPMorgan Chase all downgraded the stock on the news.
"This is just a case where people said, '[CEO Sandy] Cutler doesn't know what he's doing. He's done a bad job,' and they've all turned on him at once," Cramer said. "When you turn on someone all at once, they tend to make a comeback."
"When everyone downgrades a stock, what have we learned? ... It's closer to a bottom than a top."
—By CNBC's Drew Sandholm, with Reuters.
DISCLOSURE: When this story was published, Cramer's charitable trust owned Eaton. It did not, however, own Pitney Bowes.