We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Garmin's (GRMN) G3000 Selection to Boost Aviation Segment
Read MoreHide Full Article
Garmin (GRMN - Free Report) is leaving no stone unturned to expand its customer base on the back of robust aviation portfolio offerings.
GRMN’s Garmin G3000 integrated flight deck recently got selected by Tactical Air Support for the Avionics Reconfiguration and Tactical Enhancement/Modernization for Inventory Standardization (ARTEMIS) contract with the U.S. Department of Defense (DOD).
Garmin G3000 will be integrated into Tactical Air’s F-5 Advanced Tiger aircraft. Garmin G3000 has a large and vibrant high-resolution flight display. Its commercial-off-the-shelf supports integration with a wide range of mission equipment, including military sensors, helmet mounted displays and advanced electrically-scanned radar systems.
With the Garmin G3000 flight deck, the DOD will be able to access the latest in commercial communication, navigation, surveillance or air-traffic management capabilities. DOD will also be able to seamlessly deploy new technologies in the days ahead.
Earlier, Tactical Air picked Garmin G3000 for the F-5 adversary aircraft training fleet. The recent collaboration for DoD contract further strengthened Garmin’s partnership with Tactical Air.
Apart from the recent selection, Garmin G3000 was picked by Heart Aerospace for use in its ES-19 electric airliner. Also, GRMN’s partnership with the United Airlines, whereby it signed a definite agreement to buy 100 ES-19 aircraft, remains noteworthy.
Garmin’s integrated flight deck technologies are deployed to more than 25,000 aircraft. The U.S. military also adopted Garmin’s flight deck solutions.
Increasing demand for Garmin’s aviation offerings highlights the reliability and efficiency of these solutions.
Garmin keeps updating its advanced aviation technologies to provide better solutions to its customers.
Recently, GRMN added capabilities, including the graphical weight & balance feature, to the Garmin Pilot application for iPad or iPhone mobile devices. These features are available for European users.
Wrapping Up
We believe, the above-mentioned efforts will continue to aid Garmin in strengthening its presence in the aviation end market.
In addition, Garmin is witnessing solid momentum across the OEM and aftermarket categories, which remains a positive.
Further, an expanding product portfolio will continue to help GRMN win more customers and achieve certifications in the near term.
Recently, Garmin’s GFC 500 autopilot received Supplemental Type Certification from the Federal Aviation Administration for use in the American Champion Aircraft 8GCBC Scout aircraft.
All these advancements are expected to contribute well to GRMN’s aviation revenues. The aviation segment generated $204.7 million sales, accounting for 16.5% of second-quarter 2022 total net sales. Sales increased 13% from the prior-year quarter’s level.
However, Garmin is facing softness in the fitness segment due to sluggish demand for cycling products and advanced wearables. In addition, marine and auto segments are witnessing declining growth due to supply-chain constraints and weak momentum across the auto OEM programs. These are affecting top-line growth.
Shares of GRMN have been down 35.1% in the year-to-date period, lagging the Computer and Technology sector’s decline of 30.1%.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #4 (Sell).
Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Arista Networks (ANET - Free Report) , Teradata (TDC - Free Report) and Monolithic Power Systems (MPWR - Free Report) . While Arista Networks sports a Zacks Rank #1 (Strong Buy), Teradata and Monolithic Power Systems carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks has lost 15% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 18.6%.
Teradata has lost 24.7% in the year-to-date period. The long-term earnings growth rate for TDC is currently projected at 27.4%.
Monolithic Power Systems has lost 12.9% in the year-to-date period. The long-term earnings growth rate for MPWR is currently projected at 25%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Garmin's (GRMN) G3000 Selection to Boost Aviation Segment
Garmin (GRMN - Free Report) is leaving no stone unturned to expand its customer base on the back of robust aviation portfolio offerings.
GRMN’s Garmin G3000 integrated flight deck recently got selected by Tactical Air Support for the Avionics Reconfiguration and Tactical Enhancement/Modernization for Inventory Standardization (ARTEMIS) contract with the U.S. Department of Defense (DOD).
Garmin G3000 will be integrated into Tactical Air’s F-5 Advanced Tiger aircraft. Garmin G3000 has a large and vibrant high-resolution flight display. Its commercial-off-the-shelf supports integration with a wide range of mission equipment, including military sensors, helmet mounted displays and advanced electrically-scanned radar systems.
With the Garmin G3000 flight deck, the DOD will be able to access the latest in commercial communication, navigation, surveillance or air-traffic management capabilities. DOD will also be able to seamlessly deploy new technologies in the days ahead.
Earlier, Tactical Air picked Garmin G3000 for the F-5 adversary aircraft training fleet. The recent collaboration for DoD contract further strengthened Garmin’s partnership with Tactical Air.
Garmin Ltd. Price and Consensus
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
Aviation Segment in Focus
Apart from the recent selection, Garmin G3000 was picked by Heart Aerospace for use in its ES-19 electric airliner. Also, GRMN’s partnership with the United Airlines, whereby it signed a definite agreement to buy 100 ES-19 aircraft, remains noteworthy.
Garmin’s integrated flight deck technologies are deployed to more than 25,000 aircraft. The U.S. military also adopted Garmin’s flight deck solutions.
Increasing demand for Garmin’s aviation offerings highlights the reliability and efficiency of these solutions.
Garmin keeps updating its advanced aviation technologies to provide better solutions to its customers.
Recently, GRMN added capabilities, including the graphical weight & balance feature, to the Garmin Pilot application for iPad or iPhone mobile devices. These features are available for European users.
Wrapping Up
We believe, the above-mentioned efforts will continue to aid Garmin in strengthening its presence in the aviation end market.
In addition, Garmin is witnessing solid momentum across the OEM and aftermarket categories, which remains a positive.
Further, an expanding product portfolio will continue to help GRMN win more customers and achieve certifications in the near term.
Recently, Garmin’s GFC 500 autopilot received Supplemental Type Certification from the Federal Aviation Administration for use in the American Champion Aircraft 8GCBC Scout aircraft.
All these advancements are expected to contribute well to GRMN’s aviation revenues. The aviation segment generated $204.7 million sales, accounting for 16.5% of second-quarter 2022 total net sales. Sales increased 13% from the prior-year quarter’s level.
However, Garmin is facing softness in the fitness segment due to sluggish demand for cycling products and advanced wearables. In addition, marine and auto segments are witnessing declining growth due to supply-chain constraints and weak momentum across the auto OEM programs. These are affecting top-line growth.
Shares of GRMN have been down 35.1% in the year-to-date period, lagging the Computer and Technology sector’s decline of 30.1%.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #4 (Sell).
Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Arista Networks (ANET - Free Report) , Teradata (TDC - Free Report) and Monolithic Power Systems (MPWR - Free Report) . While Arista Networks sports a Zacks Rank #1 (Strong Buy), Teradata and Monolithic Power Systems carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks has lost 15% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 18.6%.
Teradata has lost 24.7% in the year-to-date period. The long-term earnings growth rate for TDC is currently projected at 27.4%.
Monolithic Power Systems has lost 12.9% in the year-to-date period. The long-term earnings growth rate for MPWR is currently projected at 25%.