"I'm used to seeing these guys cut numbers in a downturn because they're levered to everything from planes, to cars, to buildings," Cramer said.
But McGarry was out ahead of it, Cramer said, rapidly pulling back on costs to minimize impacts of a shortfall."McGarry even called out the auto business as a source of strength," he said. "In other words, these executives learned from the Great Recession and they're not gonna let themselves get blindsided again.
But on its conference call, Cramer said he learned about the strength of Illinois Tool Works' non-auto-related businesses, including science and patents, at which moment he "realized it's a better company than people think."Illinois Tool Works had margin improvement in pretty much everything, their raw costs came down, the company actually saw some strength in Europe," Cramer said.
He is full of shit