A Great American Turnaround Story

Amidst the escalating violence in the Middle East, Cramer on Wednesday recommended investors look for companies that have the ability to pass on higher costs and aren't dependent on the consumer.

Take Honeywell International , for example. The Morristown, N.J.-based company makes aerospace, automation and climate control equipment, as well as specialty materials and auto parts. It recently hosted an incredibly bullish analyst meeting, where it laid out a five-year forecast that predicted increasing sales and earnings. That's noteworthy, Cramer said, because Honeywell is a cyclical business. In other words, its performance is dependant on the health of the U.S. and global economies.

"Honeywell is a great American turnaround story with fabulous management," Cramer said. "The current CEO, Dave Cote, took over in 2002 and turned a hidebound laggard of a company into a world-class industry leader."

Cote saw the Great Recession coming, Cramer said. In turn, he aggressively cut costs, which helped it to become a stronger and more profitable company. With the economy now rebounding, Honeywell is doing well. Even though its stock is flirting with its high, Cramer still thinks it's a bargain. After all, it is selling for less than 13 times forward earnings with a 15 times long-term growth rate and a 2.3 percent yield.

To learn about what's ahead for Honeywell, Cramer spoke with Cote. Watch the video to see the full interview.

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