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The aerospace bull market rages on, but with shares of Boeing (BA) up 60% over the past 12 months, have investors missed the move? Cramer said he'd swap out of Boeing and into Rockwell Collins (COL) instead.
After trading sideways for most of 2016, Rockwell found its footing this year and has been steadily surging higher. Part of that move was the company's acquisition of B/E Aerospace, a deal that closed just a few months ago.
Rockwell mostly makes the brains of an aircraft, with things like avionics and communications systems. B/E Aerospace however, makes the guts of a plane, things like cabin components and seating. With the combined company now offering a broad range components, it's only more valuable to its customers.
Then there's the defense angle. It's no secret that President Trump is big on defense and that means more aircraft that need Rockwell's components. The company is about evenly split between military and commercial aircraft.
But despite all of these positives, and it's rising shares, Rockwell still trades at just 15 times earnings. That's far less than the 20 times earnings multiple enjoyed by both Boeing and Lockheed Martin (LMT) .
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