12 Stocks Jim Cramer Was Right About

11. Carrier Global Corporation (NYSE:CARR)

Number of Hedge Fund Holders: 49

Back in 2024, on May 15, Mad Money’s Jim Cramer discussed the surprising strength of industrial spin-offs, singling out Carrier Global Corporation (NYSE:CARR) as the most successful of the three companies formed from United Technologies.

“But of the three former United Technology components, it’s Carrier Global that’s the biggest winner. This was a surprise, right? Stock’s up 3.95% since the breakup, gives you a total return of 42% including dividends. This heating, ventilation, and air conditioning business is now worth over $59 billion all by itself. Carrier’s just doing a great job thanks to the stewardship of Dave Gitlin. It reported a fantastic quarter last month, and I see more strength ahead thanks to the data center boom and a terrific acquisition they made over in Europe.”

His positive call was justified, with the stock rising 16.34% and validating its role in the data center boom.

Carrier Global Corporation (NYSE:CARR) is gaining traction thanks to surging demand for HVAC systems in data centers and climate-focused retrofits. Cramer remains a fan of the stock, especially as it reported a strong earnings report in Q1 2025. Here’s what he said in May:

“See that behind me? Carrier, that was good. . . it had Carrier a second ago. Yeah, David Gitlin did a really good job, a lot of people were doubting. Forget that, it’s the doubters are being silenced today.”