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Invest in America Week: Honeywell International

Invest in America Week, Mad Money’s series on the companies that will lead us out of the recession, is all about great management. These CEOs have the ability to take a great franchise and make it even better.

Cramer has already interviewed Terry Lundgrenand Bob Iger, the visionary executives heading Macy’s and Disney , respectively. On Wednesday, he spent time with Honeywell International’s David Cote, the main driver behind HON’s 23% rise in share price since he took over in 2002. The S&P 500 is up just 0.6% over the same period.

Cote saw the global economic meltdown coming, Cramer said, and took measures to protect his firm. As a result, Honeywell was profitable last quarter despite 10% to 30% declines in demand. Just think of how well the company will do once the recovery is in full swing.

Oddly, though, the stock is trading at 2001-2003 down-cycle levels even though the underlying business is much better today than it was then. Cramer sees that as an opportunity to get HON at a great price. Don’t believe him? Then watch his interview with CEO Cote and decide for yourself.

Cramer's charitable trust owns Honeywell International.

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