A globe valve is a linear valve used to start, stop and regulate flow. The globe valve disk can be completely or partially removed from the flow or it can completely close the flow.
Globe valves are used for applications requiring throttling and frequent operation. For example, globe valves or valves with a similar mechanism, may be used as sampling valves, which are normally shut except when liquid samples are being taken. Since the baffle restricts flow, they're not recommended where full, unobstructed flow is required.
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You can send a valve to a machine shop to change some end connections and trim material. This usually adds cost to the valve and requires a new hydro test but it can save weeks on delivery.