Dow Today: Hewlett-Packard (HPQ) Higher

The Dow Jones Industrial Average ( ^DJI) is trading up 112 points (+0.9%) at 13,071 as of Tuesday, Mar 13, 2012, 1:30 p.m. ET. During this time, 356.6 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 818.6 million. The NYSE advances/declines ratio sits at 2,254 issues advancing vs. 734 declining with 85 unchanged.

The Dow component leading the way higher looks to be Hewlett-Packard (NYSE: HPQ), which is sporting a 40-cent gain (+1.7%) bringing the stock to $24.44. This single gain is lifting the Dow Jones Industrial Average by 3.03 points or roughly accounting for 2.7% of the Dow's overall gain. Volume for Hewlett-Packard currently sits at 10.1 million shares traded vs. an average daily trading volume of 17.8 million shares.

Hewlett-Packard has a market cap of $56.58 billion and is part of the technology sector and computer hardware industry. Shares are down 6.7% year to date as of Monday's close. The stock's dividend yield sits at 2%.

Hewlett-Packard Company and its subsidiaries provide products, technologies, software, solutions, and services to individual consumers and small- and medium-sized businesses (SMBs), as well as to the government, health, and education sectors worldwide. The company has a P/E ratio of 8.4, below the average computer hardware industry P/E ratio of 8.6 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Hewlett-Packard as a hold. Among the primary strengths of the company is its attractive valuation levels, considering its current price compared to earnings, book value and other measures. At the same time, however, we also find weaknesses including deteriorating net income, poor profit margins and weak operating cash flow.