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Honeywell International Inc (HON - Analyst Report) recently launched a campus-wide energy retrofit project for Coe College in Cedar Rapids, IA, for $3.45 million to help the college achieve its energy efficiency targets. The college will fund the project with a loan issued by the Iowa Economic Development Authority (IEDA), which helps colleges by providing funds for energy improvements. The construction is expected to begin in May with completion expected within a year.

Honeywell identified the areas in the college where improvement can be made and has built a master plan for future energy efficiency. As part of this project, Honeywell will improvise 16 facilities by redesigning air-distribution systems and adding HVAC controls, high-efficiency lighting and occupancy sensors; weather improvements to reduce the loss of conditioned air and new plumbing fixtures to reduce water wastage.

The project aims to reduce the environmental impact of the campus by reducing close to 2,300 metric tons of annual greenhouse gas emissions. Also, it is expected to reduce the college's electricity consumption by 25% and natural gas use by almost 50% and deliver approximately $220,000 in energy and operational savings annually. Such projects will not just help in lowering energy usage and costs but also provide environmental benefits with sustainability goals for the college.

Honeywell is a global diversified technology and manufacturing firm with a wide range of products and services. These include control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions for homes, business and transportation.

Honeywell currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now include CLARCOR Inc (CLC - Snapshot Report), Icahn Enterprises, L.P. (IEP) and Noble Group Limited (NOBGY), each carrying a Zacks Rank #1 (Strong Buy).

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