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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