Aerospace stocks have been soaring for some time, and Jim Cramer said investors looking for a new way to play the sector should look into a more under-the-radar stock: Rockwell Collins.
In addition to trading at a discount to more popular names like Boeing, the aircraft components manufacturer has also undergone a transformation in its business, acquiring B/E Aerospace to broaden its portfolio and delivering a very strong earnings report just before the deal closed.
"Given the cheapness of the stock and all the positives from the B/E Aerospace deal, I think Rockwell Collins is too sexy to ignore," the "Mad Money" host said. "If you like the aerospace bull market but don't like how much Boeing's stock has run, then ring the register and swap some Boeing into Rockwell Collins. Remember, I don't want to do this, but I know people are itching."