Ingersoll-Rand [IR] is trading at only 4 times forward earnings, adds Guy Adami. That’s not just a value, that’s absurd.

A name like Ingersoll (IR) might work for investors, too. That company reported disappointing earnings and lowered estimates, but still the stock is down only about 50 cents. A stronger company in another sector, Cramer said, might have dropped lower.

Ingersoll-Rand (IR) is only an $8 billion company. That's incredible, given its earnings power and its de-cyclicalizaton.

low PEG (under 1.0), low P/B (under 2.0), low Debt/Equity (under 1.0), & Assets at least twice the Liabilities.

Paid dividend every year since 1904

But a 31% stock slide since October, compared with the mere 6% blemish on its peers, may have factored in most of these downside risks. "We believe that the intrinsic characteristics and capabilities of IR's revamped business portfolio are not yet widely appreciated by investors," says KeyBanc analyst Jeffrey Hammond, who initiated coverage of the stock last week with a Buy rating. Skepticism about market challenges and the ability to execute "is fully priced into IR shares." In fact, the combination of scale and market-leading brands should help increase profits and cut costs, with bullish money managers expecting the company to earn $6 a share by 2010 -- up from an estimated $3.69 in 2008 and $4.35 in 2009. Its less cyclical assets also should drive more predictable returns -- once the market wises up to the reformed stock, which is rated Buy by only five out of 17 sell-side analysts. KeyBanc's price target: 49.

In the "new-tech" space, Cramer still likes Ingersoll-Rand (IR), Emerson (EMR), Eaton (ETN) and Parker Hannifin (PH).

machinery
is 43 in 40 out 48

Ingersoll-Rand (IR) was downgraded at Morgan Stanley. Rating lowered to Underweight from Equal-weight. 2008 EPS estimates raised to $2.93 from $2.88. Price target removed.

look out for United Tech (UTX) and Honeywell (HON) and Ingersoll-Rand (IR) and Emerson Electric (EMR), they all have big bids underneath.

No plan - just selling what they cannot manage.

WORST BERMUDA BASED CURREPT GREEDY GOOD FOR NOTHING CONGLAMURATE