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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

Boeing's

(BA) - Get 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 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

Honeywell

(HON) - Get Report

,

Covanta

(CVA) - Get Report

,

Temple-Inland

( TIN),

Schering-Plough

( SGP) and

Coeur d'Alene Mines

(CDE) - Get Report

.

Cramer blessed this portfolio as diversified.

The second caller's top holdings included

Procter-Gamble

(PG) - Get Report

,

Johnson & Johnson

(JNJ) - Get Report

,

Time Warner

(TWX)

,

Cummins

(CMI) - Get Report

and

Clorox

(CLX) - Get 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 Report

and

Apple

(AAPL) - Get Report

.

The final caller's portfolio had

AT&T

(T) - Get Report

,

Bank of America

(BAC) - Get Report

,

Transocean

(RIG) - Get Report

,

Corning

(GLW) - Get Report

and

Disney

(DIS) - Get Report

as his top stocks.

Cramer liked

JP Morgan

(JPM) - Get Report

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

Mad Mail

In this segment, Cramer told a viewer that

GTX Corp

(GTXI)

is a speculative stock and he'd be careful.

A second viewer asked about

Conceptus

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

A third viewer asked about

American Superconductor

(AMSC) - Get 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

Garmin

(GRMN) - Get 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 Report

,

ALCOA

(AA) - Get Report

,

Precision Castparts

(PCP)

,

Honeywell

(HON) - Get Report

and

Diamond Offshore

(DO) - Get Report

.

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Lightning Round

Cramer was bullish on

First Solar

(FSLR) - Get Report

,

Apache

(APA) - Get Report

,

Devon Energy

(DVN) - Get Report

,

Bristol-Myers Squibb

(BMY) - Get Report

,

HJ Heinz

(HNZ)

,

Caterpillar

(CAT) - Get Report

,

DuPont

(DD) - Get Report

and

Goldman Sachs

(GS) - Get Report

.

Cramer was bearish on

ingli Green Energy

(YGE)

,

Nextwave Wireless

( WAVE),

Clearwire

(CLWR)

,

RAM Energy Resources

( RAME),

Electronic Data Systems

(EDS)

and

Hershey Foods

(HSY) - Get Report

.

Jim Cramer writes about all the stock trades in his charitable trust for TheStreet.com in Action Alerts Plus. Recent stocks he's traded in this account include Schering-Plough (SPG) - Get Report, Yamana Gold (AUY) - Get 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 TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com 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 TheStreet.com, 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 TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

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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 TheStreet.com. 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 TheStreet.com, 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.