U.S. Markets open in 2 hrs 14 mins
  • Gold

    1,768.40
    -9.80 (-0.55%)
     
  • Silver

    23.03
    +0.46 (+2.05%)
     
  • EUR/USD

    1.1696
    -0.0034 (-0.2924%)
     
  • 10-Yr Bond

    1.3360
    +0.0120 (+0.91%)
     
  • Vix

    20.87
    -3.49 (-14.33%)
     
  • GBP/USD

    1.3619
    -0.0045 (-0.3282%)
     
  • USD/JPY

    109.7800
    +0.5600 (+0.5127%)
     
  • BTC-USD

    43,658.91
    +470.02 (+1.09%)
     
  • CMC Crypto 200

    1,089.55
    +49.07 (+4.72%)
     
  • FTSE 100

    7,083.37
    +102.39 (+1.47%)
     
  • Nikkei 225

    29,639.40
    -200.31 (-0.67%)
     

Garmin (GRMN) Boosts Aviation Efforts With New Certification

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Garmin Ltd. GRMN is leaving no stone unturned to bolster the aviation business on the back of its robust autonomous flight solutions.

The company’s GFC 500 autopilot received aSupplemental Type Certificate (“STC”) from Federal Aviation Administration (“FAA”) for use in select Piper PA-24 Comanche aircraft. The approval is a testament to the company’s focus on strengthening the aviation portfolio.

Notably, the latest certification is applicable for the models — PA-24-180, PA-24-250, PA-24-260, PA-24-260B and PA-24-260C1.

Notably, GFC 500 offers robust autopilot performance, strong reliability and advanced safety benefits.

Further, it features superior in-flight characteristics and self-monitoring capabilities, and comes with minimal maintenance needs.

It also features altitude pre-select, VNAV2, and altitude hold, vertical speed and heading modes. Additionally, GFC 500 integrates with GI 275 or G5 electronic flight instruments seamlessly.

We note that the latest certification highlights the reliability of Garmin’s aviation technology.

Garmin Ltd. Revenue (TTM)

Garmin Ltd. Revenue (TTM)
Garmin Ltd. Revenue (TTM)

Garmin Ltd. revenue-ttm | Garmin Ltd. Quote

Growing Certifications

The company’s aviation business is expected to benefit from the above-mentioned certification.

Apart from the latest certification, GFC 500 digital autopilot received STC from FAA for use in Socata TB 20 and TB 21 aircraft.

Also, its GFC 600 digital autopilot received STC from FAA for use in Beechcraft King Air C90 aircraft and E90 aircraft.

Further, GFC 500 Autopilot received STC from FAA for use in the Cessna 172RG and Mooney M20 (C to G models) aircraft.

Further, the G1000 NXi upgrade received certification for use in the Prodigy Flight Deck-equipped Embraer Phenom 300 business jet.

Aviation in Focus

We believe that the latest certification will drive the company’s top line, which has been gaining from the well-performing aviation business.

Moreover, Garmin’s aviation business unit is expected to witness growth with the increasing adoption of Autoland. This, in turn, will likely drive the segment’s revenue growth.

Moreover, the company’s family of autonomous safety solutions— Garmin Autonomi, which comprises Emergency Descent Mode and Electronic Stability and Protection, and Autoland—has emerged as a key catalyst of its aviation business.

Apart from this, strengthening flight display and deck offerings by Garmin remain noteworthy.

Further, the company’s aviation business remains robust with its solutions remaining popular at both OEM and aftermarket customers.

Zacks Rank & Stocks to Consider

Currently, Garmin carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader technology sector are NVIDIA Corporation NVDA, NXP Semiconductors N.V. NXPI and Texas Instruments Incorporated TXN. All companies carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Long-term earnings growth rates of NVIDIA, NXP Semiconductors and Texas Instruments are pegged at 15.23%, 10% and 9.33%, respectively.

Infrastructure Stock Boom to Sweep America

A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.

The only question is “Will you get into the right stocks early when their growth potential is greatest?”

Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.

Download FREE: How to Profit from Trillions on Spending for Infrastructure >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

NVIDIA Corporation (NVDA) : Free Stock Analysis Report

Texas Instruments Incorporated (TXN) : Free Stock Analysis Report

Garmin Ltd. (GRMN) : Free Stock Analysis Report

NXP Semiconductors N.V. (NXPI) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research