NEW YORK ( TheStreet) -- ABB (NYSE: ABB) hit a new 52-week high Wednesday as it is currently trading at $24.83, above its previous 52-week high of $24.73 with 226,426 shares traded as of 9:36 a.m. ET. Average volume has been 2.5 million shares over the past 30 days.

ABB has a market cap of $54.7 billion and is part of the industrial goods sector and industrial industry. Shares are up 6.9% year to date as of the close of trading on Tuesday.

ABB Ltd provides power and automation technologies for utility and industrial customers worldwide. The company's Power Products division manufactures and sells high- and medium-voltage switchgear and apparatus, circuit breakers, power and distribution transformers, and sensors. The company has a P/E ratio of 21.6, equal to the average industrial industry P/E ratio and above the S&P 500 P/E ratio of 16.3.
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TheStreet Ratings rates ABB as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full ABB Ratings Report.

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