Cramer was out with bullish comments on Parker Hannifin (PH), calling the company one of America's new manufacturing companies. Cramer explained that the company is on the cutting edge of industrial technology in areas like electrical engineering products and motion and control systems for commercial trucks and aerospace.
The company is currently working on a hydraulic system for garbage and delivery trucks that harnesses the energy used in braking and redirects it to power the vehicle without using the engine. The company thinks the new technology can cut a truck's energy consumption by 50%.
Cramer welcomed Don Washkewicz, chairman, president and CEO of PH, to talk about his company's prospects. Washkewicz explained that PH is in the early stages of the development. He said that firm gets 55% of its revenues from overseas. "North America is in recession, but Parker Hannifin is not," said Washkewicz. Cramer said that PH is one of the greatest manufacturing companies in the world. "The Street's just not bullish enough on this one. This stock’s too cheap," he said. "Buy some Parker Hannifin."
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Jim Cramer Mad Money picks Parker Hannifin (PH), and interviews Don Washkewicz, president and CEO of PH
