Why Honeywell's Stock Tastes Sweet

There are a host of industrial companies in the US that make "fantastic products," Cramer said Tuesday, and increasingly sell them overseas, especially in emerging markets where the demand is coming from. All this week, he’s highlighting these American industrial titans. On Monday, he put the spotlight on Caterpillar and John Deere , and he's now turning his attention to Honeywell International and Boeing.

Based in Morristown, N.J., Honeywell is a diversified technology and manufacturing company that makes everything from aircraft engines to security systems. Its ability to service several sectors is like a "beautiful mosaic," Cramer said, where each piece works together to form a better company. Fifty-five percent of sales comes from early cycle business, which are those that do well when we're coming out of a recession, like specialty chemicals and car parts. Honeywell's late-cycle business, such as aerospace and security systems, causes earnings to "explode higher" as the economy improves.

Speaking of aerospace, Cramer said the industry is beginning to take off as airlines buy new commercial aircraft. A cycle in aerospace is usually seven years, and he thinks Honeywell is a "terrific" way to profit from it because the company makes numerous parts for Boeing's 787 Dreamliner, including its flight control system. Cramer thinks Boeing , a Chicago-based company, is "best in breed" and recommends looking at its stock, too.

When Honeywell reported its latest quarterly earnings results in July, Cramer said it was "fabulous." Not only did the industrial name have a "genuine beat and raise," he thinks it "only gets better from here." The secret to Honeywell’s success? Great management. That's why Cramer invited CEO Dave Cote to the "Mad Money" studios, where the two talked about what's next for this manufacturing giant. Watch the video to see the full interview.

When this post was published, Cramer's charitable trust owned Boeing and Honeywell Industries.

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