Why Jim Cramer says investors should 'want to own' this industrial stock
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CNBC Finance
3 min read
Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Thursday's key moments. 1. The Dow hit a new all-time intraday high Thursday as investors digested June's weaker-than-expected non-farm payrolls report, which showed a significant cooling in U.S. job creation. The broad-based S & P 500 index was also higher, while the Nasdaq fell as chip stocks continued to flounder. Jim Cramer said the softer data supports Federal Reserve Chairman Kevin Warsh's ability to lower rates in the future. "Take the rate hike off the table," said Jim, who has long argued that lower rates are ultimately key to fueling economic growth and unlocking gains in Club names like Home Depot . As the odds of a rate hike decline, Jim says the market rally is "going to last." 2. Honeywell Aerospace shares rose more than 4% after research firm BMO initiated coverage on the recently spun-off company with a buy rating and $276 price target. Jim said he's "willing to buy" more shares of the aviation technologies company at its current trading level of roughly $233 per share. "Honeywell Aerospace is an inexpensive way to play travel, and we know that travel is on fire," Jim said, citing price target increases on major airlines as an indication for future demand. The Club was granted 220 shares of Honeywell Aerospace following the completion of its split from Honeywell on Monday. 3. Jim advised investors to focus on Linde , which is up over 2% on Thursday. "This is what you want to own," while acknowledging that the industrial sector hasn't been an investor favorite. Jim said the industrial gases company is part of a cohort of "quiet industrials that go higher." It is a "secular grower," meaning it benefits from long-term trends like the AI buildout and green energy rather than from economic cycles. 4. Stocks covered in Thursday's rapid-fire at the end of the video were C hevron and Palantir (Jim Cramer's Charitable Trust is long HONA, HON, HD, and LIN. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
