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"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), 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


(BA) - Get Boeing Company Report

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

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Yet much of Wall Street treats Woodward as a mere cyclical company, noted Cramer. He said the estimates for the company are way to low and the analysts "just don't get it."

Woodward trades at just 18 times its forward numbers with a paltry 12% long-term growth rate. This despite the fact that the company grew at 19% this past quarter alone. "It knows how to deliver," said Cramer, who estimated the company's real growth rate at 27.8%.

Cramer said that Woodward has everything we wants from a "new" tech company, and he targets the stock at $53 a share.

Investing in Organic Growth

Cramer welcomed back Bruce Carbonari, president and CEO of

Fortune Brands

( FO), to the show to discuss his company's current outlook.

Cramer last recommended Fortune on Feb. 7. While the stock is up a modest 7% since then, the company missed its earnings estimates by three cents a share and narrowed its guidance, both of which raised eyebrows for Cramer.

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Carbonari said that while his company is forced to ride the trends in the housing market, most of Fortune's products appeal to the remodeling market and not the new home market. Cramer noted that 67% of the company's home products sell into the more stable remodeling market.

When asked about Fortune's decision to sell its US wine business to

Constellation Brands

(STZ) - Get Constellation Brands, Inc. Class A Report

, Carbonari said the decision was made because of the shallow returns that segment provided to the company.

He also noted that Fortune's strategy is to invest in and grow its current brands, rather than purchase new brands. "Our company's best returns always come from organic growth," he said.

Finally, Carbonari discussed Fortune's exposure to the golf business. He said golf is growing both domestically and internationally and his company is positioned to grow with it.

Cramer agreed with his comments and recommended the stock on any positive news from the housing market.

Am I Diversified?

Cramer talked with callers to see if their portfolios have what it takes. The first caller's portfolio included


(HON) - Get Honeywell International Inc. (HON) Report



(CVA) - Get Covanta Holding Corporation Report



( TIN),


( SGP) and

Coeur d'Alene Mines

(CDE) - Get Coeur Mining, Inc. Report


Cramer blessed this portfolio as diversified.

The second caller's top holdings included


(PG) - Get Procter & Gamble Company Report


Johnson & Johnson

(JNJ) - Get Johnson & Johnson (JNJ) Report


Time Warner




(CMI) - Get Cummins Inc. Report



(CLX) - Get Clorox Company Report


Cramer identified two of a kind with Clorox and Proctor. He suggested selling Johnson and Time Warner and picking up

General Dynamics

(GD) - Get General Dynamics Corporation (GD) Report



(AAPL) - Get Apple Inc. (AAPL) Report


The final caller's portfolio had


(T) - Get AT&T Inc. Report


Bank of America

(BAC) - Get Bank of America Corp Report



(RIG) - Get Transocean Ltd. Report



(GLW) - Get Corning Inc Report



(DIS) - Get Walt Disney Company Report

as his top stocks.

Cramer liked

TheStreet Recommends

JP Morgan

(JPM) - Get JPMorgan Chase & Co. (JPM) Report

more than Bank of America, but called the portfolio "well played."

Mad Mail

In this segment, Cramer told a viewer that

GTX Corp


is a speculative stock and he'd be careful.

A second viewer asked about


( CPTS), but Cramer said to stay far away from that one.

A third viewer asked about

American Superconductor

(AMSC) - Get American Superconductor Corporation Report

. Cramer said that he has many favorite wind stocks, but won't recommend American Superconductor.

Finally, Cramer told a viewer that he's still negative on


(GRMN) - Get Garmin Ltd. (GRMN) Report

since most of the company's businesses are not doing well at the moment.

Sudden Death

Cramer was bullish on

Spirit AeroSystems Holdings

(SPR) - Get Spirit AeroSystems Holdings, Inc. Class A Report



(AA) - Get Alcoa Corp. Report


Precision Castparts




(HON) - Get Honeywell International Inc. (HON) Report


Diamond Offshore

(DO) - Get Diamond Offshore Drilling, Inc. Report


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Lightning Round

Cramer was bullish on

First Solar

(FSLR) - Get First Solar, Inc. Report



(APA) - Get Apache Corporation Report


Devon Energy

(DVN) - Get Devon Energy Corporation Report


Bristol-Myers Squibb

(BMY) - Get Bristol-Myers Squibb Company Report


HJ Heinz




(CAT) - Get Caterpillar Inc. Report



(DD) - Get DuPont de Nemours, Inc. Report


Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. (GS) Report


Cramer was bearish on

ingli Green Energy



Nextwave Wireless

( WAVE),




RAM Energy Resources

( RAME),

Electronic Data Systems



Hershey Foods

(HSY) - Get Hershey Company (HSY) Report


Jim Cramer writes about all the stock trades in his charitable trust for in Action Alerts Plus. Recent stocks he's traded in this account include Schering-Plough (SPG) - Get Simon Property Group, Inc. Report, Yamana Gold (AUY) - Get Yamana Gold Inc. Report and Inverness Medical( IMA).

Want more Cramer? Check out Jim's rules and commandments for investing by

clicking here


For more of Cramer's insights during the Lightning Round, click here


At the time of publication, Cramer was long Goldman Sachs, Schering-Plough and Corning.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.