Does the Forerunner 55 give a GPS position in lat/long, utm etc.?

Lat./Long. will be in each timestamp located in the .fit file associated with the activity. But the device doesn't transmit your location, if that's what you're asking.

Garmin devices that feature a GPS receiver can only receive a GPS signal. They cannot be tracked remotely or by Garmin.

However, there is the LiveTrack feature, where you can transmit your current activity progress using your smartphone - Garmin Connect App LiveTrack Feature | Forerunner® 55 | Garmin Customer Support