Some stocks just keep on working for you no matter what.
And with gains of 30 percent over the past 12 months and 90 percent in about 2 years, Cramer thinks Snap-On is nothing short of a workhorse. "Although there may be occasional hiccups, it's just keeps plowing higher and higher."
With a market cap of slightly more than $7 billion, Snap-On is a maker of premium tools sold largely to repair shops. Founded in 1920, the company pioneered the concept of interchangeable sockets and wrench handles. Today products range from sophisticated power tools and wheel aligning and balancing vehicle lifts to tire changing equipment and even specialized software and business management systems.
"You may think they sell only to auto repair shops but truth to tell, they have clients in aerospace, agriculture, construction, mining and power generation, both here and in Europe," Cramer added.
Looking at recent , Cramer thinks the results speak volumes.
Snap-on reported a 20 percent increase in second-quarter earnings Thursday, driven by broad-based organic sales growth. Looking at the numbers more closely, earnings rose to $106.1 million, or $1.80 a share, from $88.4 million, or $1.50 a share, a year earlier. Analysts surveyed by FactSet had forecast earnings of $1.68 a share. Revenue increased to $826.5 million from $764.1 million.
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"I think this is a testament to the power of execution. Snap-On's terrific management keeps delivering," Cramer noted.
And in this environment of uncertainty, Cramer said pros reward consistency.
"That's the thing about this market," Cramer said. "Long-term winners have a tendency to keep on winning. And Snap-On is a long-term winner."
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