Cramer's 'Mad Money Recap': Woodward Governor's Big Wind Power Play

Click here for an archive of Cramer's "Mad Money" recaps.

---

"I've got a stock that's levered to everything that's working," Jim Cramer told viewers of his "Mad Money" TV show Wednesday.

He once again touted Woodward Governor (WGOV Quote), which has beaten its earnings estimates six consecutive times.

Cramer last recommended Woodward on July 16, 2007. Since then, the shares have risen 17.4% in a market where the S&P 500 index has fallen 8%.

Cramer said he didn't realize just how much Woodward confirmed his thesis that high-tech companies are no longer in vogue and that what the market really wants are innovative industrial companies that solve real problems.

According to Cramer, Woodward is creating solutions and technologies that are in global demand. The company builds products to make gas and diesel engines more efficient and makes systems to reduce the emissions from aircraft turbines.

Cramer said he loved Woodward's exposure to Boeing's (BA Quote) new 787 Dreamliner, but he was also enthusiastic about the company's wind power business.

He called the company a forward thinker that now estimates its wind power business to be worth $100 million by the end of fiscal 2008, compared to the consensus estimates of only $60 million.

To bolster its wind power business, Woodward recently added its first Chinese turbine manufacturer and is building a new factory in Colorado. He said the company's wind power business is growing at a staggering 150% a year, far more than any "high-tech" company can deliver.

Cramer: Think Infrastructure After China Quake