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Squawk on the Street

Cramer's Morning Take: Dover Corp 5/28/24

Jim and Jeff break down the earnings momentum of this industrial stock. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake
CNBC Investing Club Disclaimer

Duration:
3m
Broadcast on:
28 May 2024
Audio Format:
mp3

Jim and Jeff break down the earnings momentum of this industrial stock. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake 

CNBC Investing Club Disclaimer

The market doesn't joke around, so why would you get serious? Choose tasty trade. Tasty trade gives you the tools you need to make smarter moves. Dig into data with advanced charting, track profit accurately with order chain trackers, see risk clearly with curve analysis, and trade with low-cap commissions, stocks, options, futures, and more. All-on-one platform. No wonder serious traders choose tasty trade. Join the club genius. Tasty trading is a registered broker dealer and member of FINRA and SIPC. [MUSIC] Jim Kramer here to share with you a sample of my take on the market from today's CBC Investing Club Morning meeting. Why don't we start talking about a new position that we're adding today, Dover, the industrial conglomerate, serves a whole host of different end markets. Stock's been rallying in the last couple quarters. On the orders, inflecting, they were up 3%. In Q1, fourth quarter were up 2% year over year, and that fourth quarter result was the first growth after seven straight quarters had declined. A lot of areas of double digit growth here, specifically tied around the data center, whether it's these thermal connectors that deal with liquid cooling, heat exchangers as well. And they also have a bio-pharmoured business. It looks a lot like data. Her, you know, data is inflecting. Now, one thing people need to know about this during a risk-retch company is that hitters had many iterations, but management is determined to try to get the best. So they had an elevator business, Otis was killing them, you know, you don't need to be in that. The service business for all of their is good. But they're going after mega markets. And this morning, when we talked about how, say, Elon Musk's built a giant data center, well, you know what, it's going to be Eaton, it's going to be Dover, it's going to be Vertiv. And you want to be in one of those. Now, Vertiv, I think, I think going too far. This one has been great. As if we put up the chart of Eaton, you're going to see a similar situation. I have been reluctant to pull the trigger in this company because I've seen the momentum go in the stock. But you know what, we have to stay with the mega because the mega trends. And I mean, you could say these are offshoots of video, obviously we have had a video forever. But we buy a little here and then we literally hope it comes down. Right. And that's why we started very small, started off with like a 0.6 position of the portfolio. And if it comes down, we'll buy more. Join the CNBC Investing Club with Jim Kramer. Catch my member exclusive warning meetings every day at 10 20 a.m. Visit cmbc.com/morningtake to become a member today. That's one more morning take. All opinions expressed by Jim Kramer on this podcast and in connection with the CNBC Investing Club are solely Kramer's opinions and do not reflect the opinions of CNBC, NBC Universal or their parent company or affiliates and may have been previously disseminated by Kramer on television, radio, internet or another medium. No specific outcome or profit is guaranteed in connection with your reliance upon or other use of the content from Kramer. The opinions offered in connection with this podcast and the CNBC Investing Club are not an attempt to induce any particular trading behavior, investment or strategy. You should be aware of the risk of loss and following any strategy or investment discussed in the content from Kramer. To view the full CNBC Investing Club disclaimer, please visit cmbc.com/investingclub disclaimer. What's on the horizon for financial markets? At Pgim, it's a question that over 1,400 investment professionals relentlessly research in pursuit of your long-term goals. Specialized across asset classes but united in collaboration. Our teams provide global and local expertise. Our investments shape tomorrow today. Pursue your tomorrow with Pgim, a leading global asset manager. [MUSIC PLAYING]