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Under-Rated, Dover-Looked

All week Cramer has been highlighting American manufacturing companies that are coming up with new and innovative solutions to the world’s problems. Companies like Eaton , Parker Hannifin and Harsco – these are our “new tech” plays, he said. They’re doing the work that “old tech” used to do. And on Friday he topped off the list with Dover , a pastiche of an industrial company that has its hand in so many industries it’s hard to find something it doesn’t make.

Dover is made up of divisions ranging from electronics to mobile equipment to engineered products to fluid solutions, to name just a few. It makes garbage compactors, tank trailers, ATMs, refrigeration systems, parts for construction vehicles, fuel nozzles, hearing aids and much more. Sounds boring, but consider some of the company’s newest innovations.

One of Dover’s trash compactors is fueled by solar power and uses biodegradable fluids. The company also manufactures a refrigeration unit for supermarkets that is energy efficient and emits few greenhouse gases. And it has smaller-ticket items like efficient pumping systems and coding systems that improve logistics.

As for the stock, Dover is known as one of the most consistent dividend raisers on the S&P 500 (even though the yield is just 1.6% - not much to brag about, Cramer said, but it gets raised all the time). It also boasts a 15% long-term growth rate and has been buying back stock methodically.

The company is growing where it counts – overseas. Its products are being devoured by the foreign markets that are growing much faster than the U.S. And it’s done the smart thing by dumping most of its exposure to tough markets like telco, semiconductors and automobiles.

The bottom line? Dover gets added to the list of Cramer’s favorite American manufacturers that are doing more than just building things. These stocks are the new technology companies, solving the world’s real problems and serving the industries that are in full bull market mode.

Questions for Cramer? madmoney@cnbc.com

Questions, comments, suggestions for the Mad Money website? madcap@cnbc.com

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