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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.