NEW YORK ( TheStreet) -- International Business Machines (NYSE: IBM) hit a new 52-week high Friday as it is currently trading at $173.56, above its previous 52-week high of $173.54 with 2.7 million shares traded as of 12:56 p.m. ET. Average volume has been five million shares over the past 30 days.

International Business Machines has a market cap of $206.6 billion and is part of the technology sector and computer hardware industry. Shares are up 16.9% year to date as of the close of trading on Thursday.

International Business Machines Corporation (IBM) provides information technology (IT) products and services worldwide. The company has a P/E ratio of 14.4, equal to the average computer hardware industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates International Business Machines as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, revenue growth, notable return on equity and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full International Business Machines Ratings Report.

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