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NEW YORK ( TheStreet) -- ABB (NYSE: ABB) hit a new 52-week low Tuesday as it is currently trading at $16.09, below its previous 52-week low of $16.32 with 136,590 shares traded as of 9:35 a.m. ET. Average volume has been 4.2 million shares over the past 30 days. ABB has a market cap of $39.1 billion and is part of the industrial goods sector and industrial industry. Shares are down 23.9% year to date as of the close of trading on Monday. 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 15.4, above the average industrial industry P/E ratio of 12.9 and below the S&P 500 P/E ratio of 17.7.