Globe valves are used to throttle or limit the flow of water. They have a stopper that is raised and lowered by a wheel or knob on a shaft. The stopper seals into a baffle to stop flow. Globe valves are used in situations where the flow needs to be adjusted regularly, but also where the flow doesn't have to be fully open since the baffle restricts flow.
Globe valves get their name from the globe-like or ball-like appearance that the body of the valve has.