One of the biggest myths today is that the U.S. doesn’t make things anymore, Jim Cramer said on CNBC’s “Mad Money.” There are a lot of great American companies that have been around for a long time, he said. These U.S.-based businesses do a great job of finding ways to make money in any situation, including Europe’s ongoing debt crisis and an economic slowdown in Asia.

“The fact is, many of our older, more experienced executives who work at fabulous American companies not only used the recession to take share and obliterate their weaker competitors,” Cramer said, “but they've also taken advantage of the Federal Reserve's policy of low rates to strengthen their own balance sheets and pay down high cost debt.”

Of all American companies, Apple typically gets the most attention on Wall Street and for good reason. On Tuesday, the Cupertino, Calif.-based technology company said its earnings nearly doubled on a jump in iPhone sales, surging past expectations. Its revenues also easily topped estimates. While Apple’s growth is certainly worth celebrating, Cramer said a lot of older American companies are being overlooked. He thinks these long-standing U.S. companies are worth considering, though, because they are resilient and often pay a dividend. Rather than buy another stock that may be overvalued, investors can get paid to own shares of these American-run businesses.

“Sometimes, through the political nonsense, through the chatter about governmental help, and Federal Reserve this and tax that, it pays to remember that old companies, unlike old dogs, can learn new tricks,” Cramer said.

Read on to see who made Cramer’s list of best run U.S. companies.

By Drew Sandholm with Reuters
Published 26 April 2012

When this slideshow was published, Cramer’s charitable trust owned Apple, DuPont, General Electric, and International Business Machines. GE owns a minority stake in NBCUniversal, the parent company of CNBC.

From its headquarters in St. Paul, Minn., 3M operates a diversified technology company worldwide. The conglomerate reported an increase in quarterly profit and slightly lifted its full-year outlook on Tuesday, exceeding analyst expectations even as the closely watched display and graphics business continued to struggle and Asia sales declined.

“Think about how good this company is. 3M’s key end-markets like Europe and Asia were terrible, yet they still beat the estimates handily and raised their growth forecasts for the future dramatically,” Cramer said. “That's just plain old American ingenuity.”

In addition, 3M currently pays a dividend yield of 2.7 percent. Cramer said the company has boosted its dividend, too, for the last 54 consecutive years.

To Cramer, International Business Machines is a “classic American company.” Based in Armonk, N.Y., IBM provides a variety of information technology products and services, including everything from semiconductors to software.

On Tuesday, the tech company raised its quarterly cash dividend by 13 percent and expanded its share buyback program by $7 billion. In turn, Cramer expects the move could likely boost future earnings.

To Cramer, it’s amazing how much money AT&T can make despite a sluggish economy. On Tuesday, the Dallas-based wireless communications company reported a higher-than-expected quarterly profit, as a decline in iPhone sales reduced the amount of cash it had to pay Apple and boosted its margins. Cramer noted that both its mobile and landline business segments remain strong, and costs are stabilizing, too.

Considering AT&T’s stock currently pays a 5.7 percent dividend yield, Cramer said there’s not much more one could ask for out of a company.

Headquartered in Morristown, N.J., Honeywell International is an industrial conglomerate that makes everything from cockpit electronics to control systems for large buildings. Instead of being a pure play on the U.S. economy, CEO Dave Cote has transformed Honeywell into a global business that looks for growth opportunities around the world, Cramer said. Taking note of higher energy costs, for example, Honeywell now provides customers with products that help reduce energy expenses. It’s also benefiting from increased demand in the aerospace sector, he added.

Cleveland-based Eaton is a diversified manufacturer that makes everything from electrical and hydraulic systems to auto and truck components. Cramer praised CEO Sandy Cutler for looking for growth opportunities around the world, such as energy efficiency and automotive parts. In turn, Eaton was able to raise its guidance twice already this year.

Diversified manufacturer United Technologies is the parent company of jet engine maker Pratt & Whitney, Otis elevators, and Carrier heating and cooling. Cramer credits CEO Louis R. Chênevert for focusing the Hartford, Conn.-based conglomerate on areas of growth. So he was not surprised it reported earnings results on Tuesday that beat forecasts. He expects more upside for United Technologies, as it finalizes its $16.5 billion acquisition of aerospace supplier Goodrich.

Chemicals giant E. I. du Pont de Nemours is probably better known as DuPont. To Cramer, the Wilmington, Del.-based company has a “phenomenal” CEO in Ellen Kullman. She moved DuPont “away from the whims of the U.S. economy” and toward secular trends, such as health care, alternative energy, and food production. Cramer noted there is often strong demand in these areas, so he likes DuPont’s prospects.

Pittsburgh-based PPG Industries is a chemical maker. Cramer praised CEO Chuck Bunch for turning the company into a “worldwide coatings powerhouse.” Bunch’s leadership has led to margin improvement, better sales, and record profits, Cramer said.

In a recent interview with Cramer on CNBC’s “Mad Money,” Bunch said he was more bullish on the U.S. economy than he has been in years. Between relatively low energy costs in the U.S. and increasing wage rates in China, Bunch said it now costs less to make things in the America than it does in China.

“I would say that the China cost advantage in many energy intensive industries is diminishing,” Bunch said. “The U.S. now is going to be much more competitive on the global scene in terms of manufacturing costs.”

Cramer also likes that PPG consistently boosts its dividend. It currently pays a dividend yield of 2.3 percent.

See Cramer’s full interview with Bunch here.

From health-care equipment to turbines and aerospace parts, General Electric makes all kinds of products. Nevertheless, Cramer said many people think of GE as a finance company. The New York-based conglomerate does have a finance arm called GE Capital, which was negatively impacted by the financial crisis. Cramer said GE Capital has turned things around, though, thanks to the leadership of both Michael Neal, chairman and CEO of GE Capital, and Jeffrey Immelt, GE’s chairman and CEO.