Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
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- Peter Lynch
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Schedule 13G Page 1 of 11 Pages
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Under the Securities Exchange Act of 1934
(Amendment No. 10 )
ILLINOIS TOOL WORKS INC
(Name of Issuer)
Common Stock
(Title of Class of Securities)
452308109
(CUSIP NUMBER)
December 31, 2022
(Date of Event which Requires Filing of Statement)
Check the appropriate box to designate the Rule pursuant to which this
Schedule is filed:
[x] Rule 13d - 1(b)
Rule 13d - 1(c)
Rule 13d - 1(d)
Schedule 13G Page 2 of 11 Pages
CUSIP No. 452308109
1. Name of Reporting Person and I.R.S. Identification No.
State Farm Mutual Automobile Insurance Company
37-0533100
2. Check the Appropriate Box if a Member of a Group
(a) _____
(b) __X__
3. SEC Use Only
4. Citizenship or Place of Organization
Illinois
Number of Shares Beneficially Owned by Each Reporting Person With
5. Sole Voting Power 16,563,200
6. Shared Voting Power 72,408
7. Sole Dispositive Power 16,563,200
8. Shared Dispositive Power 72,408
9. Aggregate Amount Beneficially Owned by Each Reporting Person
16,635,608
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
NOT APPLICABLE
11. Percent of Class Represented by Amount in Row 9
5.42 %
12. Type of Reporting Person
IC
Schedule 13G Page 3 of 11 Pages
CUSIP No. 452308109
1. Name of Reporting Person and I.R.S. Identification No.
State Farm Life Insurance Company
37-0533090
2. Check the Appropriate Box if a Member of a Group
(a) _____
(b) __X__
3. SEC Use Only
4. Citizenship or Place of Organization
Illinois
Number of Shares Beneficially Owned by Each Reporting Person With
5. Sole Voting Power 348,600
6. Shared Voting Power 15,798
7. Sole Dispositive Power 348,600
8. Shared Dispositive Power 15,798
9. Aggregate Amount Beneficially Owned by Each Reporting Person
364,398
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
NOT APPLICABLE
11. Percent of Class Represented by Amount in Row 9
0.12 %
12. Type of Reporting Person
IC
Schedule 13G Page 4 of 11 Pages
CUSIP No. 452308109
1. Name of Reporting Person and I.R.S. Identification No.
State Farm Life & Accident Assurance Co.
37-0805091
2. Check the Appropriate Box if a Member of a Group
(a) _____
(b) __X__
3. SEC Use Only
4. Citizenship or Place of Organization
Illinois
Number of Shares Beneficially Owned by Each Reporting Person With
5. Sole Voting Power 0
6. Shared Voting Power 2,257
7. Sole Dispositive Power 0
8. Shared Dispositive Power 2,257
9. Aggregate Amount Beneficially Owned by Each Reporting Person
2,257
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
NOT APPLICABLE
11. Percent of Class Represented by Amount in Row 9
0.00 %
12. Type of Reporting Person
IC
Schedule 13G Page 5 of 11 Pages
CUSIP No. 452308109
1. Name of Reporting Person and I.R.S. Identification No.
State Farm Fire and Casualty Company
37-0533080
2. Check the Appropriate Box if a Member of a Group
(a) _____
(b) __X__
3. SEC Use Only
4. Citizenship or Place of Organization
Illinois
Number of Shares Beneficially Owned by Each Reporting Person With
5. Sole Voting Power 2,600,000
6. Shared Voting Power 15,804
7. Sole Dispositive Power 2,600,000
8. Shared Dispositive Power 15,804
9. Aggregate Amount Beneficially Owned by Each Reporting Person
2,615,804
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
NOT APPLICABLE
11. Percent of Class Represented by Amount in Row 9
0.85 %
12. Type of Reporting Person
IC
Schedule 13G Page 6 of 11 Pages
CUSIP No. 452308109
1. Name of Reporting Person and I.R.S. Identification No.
State Farm Investment Management Corp.
2. Check the Appropriate Box if a Member of a Group
(a) _____
(b) __X__
3. SEC Use Only
4. Citizenship or Place of Organization
Illinois
Number of Shares Beneficially Owned by Each Reporting Person With
5. Sole Voting Power 0
6. Shared Voting Power 782,700
7. Sole Dispositive Power 0
8. Shared Dispositive Power 782,700
9. Aggregate Amount Beneficially Owned by Each Reporting Person
782,700
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
NOT APPLICABLE
11. Percent of Class Represented by Amount in Row 9
0.25 %
12. Type of Reporting Person
IA
Schedule 13G Page 7 of 11 Pages
CUSIP No. 452308109
1. Name of Reporting Person and I.R.S. Identification No.
State Farm Insurance Companies Employee Retirement Trust
36-6042145
2. Check the Appropriate Box if a Member of a Group
(a) _____
(b) __X__
3. SEC Use Only
4. Citizenship or Place of Organization
Illinois
Number of Shares Beneficially Owned by Each Reporting Person With
5. Sole Voting Power 1,518,100
6. Shared Voting Power 13,134
7. Sole Dispositive Power 1,518,100
8. Shared Dispositive Power 13,134
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,531,234
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
NOT APPLICABLE
11. Percent of Class Represented by Amount in Row 9
0.50 %
12. Type of Reporting Person
EP
Schedule 13G Page 8 of 11 Pages
Item 1(a) Name of Issuer:
ILLINOIS TOOL WORKS INC
Item 1(b) Address of Issuer's Principal Executive Offices:
155 HARLEM AVE.
GLENVIEW, IL 60025
Item 2(a) Name of Person(s) Filing:
State Farm Mutual Automobile Insurance
Item 2(b) Address of Principal Business Office:
One State Farm Plaza
Bloomington, IL 61710
Item 2(c) Citizenship or Place of Organization:
Illinois
Item 2(d) Title of Class of Securities: COMMON STOCK
Item 2(e) Cusip Number:452308109
Item 3: This schedule is being filed in accordance with 240.13d-1(b).
See Exhibit A attached.
Item 4(a). Amount Beneficially Owned: 21,932,001 shares
Item 4(b). Percent of Class: 7.14 % pursuant to Rule 13d-3(d)(1).
Item 4(c). Number of shares as to which the person has:
(i) Sole Power to vote or to direct the vote: 21,029,900
(ii) Shared power to vote or to direct the vote: 902,101
(iii) Sole Power to dispose or to direct disposition of: 21,029,900
(iv) Shared Power to dispose or to direct disposition of: 902,101
Item 5: Ownership of Five Percent or Less of a Class
NOT APPLICABLE
Item 6: Ownership of More than Five Percent on Behalf of Another Person
NOT APPLICABLE
Item 7: Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company.
NOT APPLICABLE
Item 8: Identification and Classification of Members of the Group
See Exhibit A attached.
Item 9: Notice of Dissolution of Group
NOT APPLICABLE
Schedule 13G Page 9 of 11 Pages
Item 10: Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired and are not
held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a participant
in any transaction having that purpose or effect.
Signature.
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true,
complete and correct.
Dated: January 30, 2023
STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY
STATE FARM LIFE INSURANCE COMPANY
STATE FARM LIFE AND ACCIDENT ASSURANCE COMPANY
STATE FARM FIRE AND CASUALTY COMPANY
STATE FARM INVESTMENT MANAGEMENT CORP.
STATE FARM INSURANCE COMPANIES EMPLOYEE RETIREMENT TRUST
/s/ Joseph P. Young /s/ Joseph P. Young
_____________________________ _______________________________
Joseph P. Young, Fiduciary of Joseph P. Young, Vice President
each of the above of each of the above
Schedule 13G Page 10 of 11 Pages
EXHIBIT A
This Exhibit lists the entities affiliated with State Farm Mutual
Automobile Insurance Company ("Auto Company") which might be deemed to
constitute a "group" with regard to the ownership of shares reported
herein.
Auto Company, an Illinois-domiciled insurance company, is the parent
company of multiple wholly owned insurance company subsidiaries,
including State Farm Life Insurance Company, and State Farm Fire and
Casualty Company. Auto Company is also the parent company of State
Farm Investment Management Corp. ("SFIMC"), which is a registered
investment advisor under the Investment Advisors Act of 1940.
SFIMC serves as investment advisor to Advisers Investment Trust, a
Delaware Statutory Trust that is a registered investment company
under the Investment Company Act of 1940. Auto Company also sponsors
a qualified retirement plan for the benefit of its employees, which
plan is named the State Farm Insurance Companies Employee Retirement
Trust.
As part of its corporate structure, Auto Company has established an
Investment Department. Except for assets managed by SFIMC, the
Investment Department is directly or indirectly responsible for
managing or overseeing the management of the investment and
reinvestment of assets owned by each person that has joined in
filing this Schedule 13G. Moreover, except for assets managed by
SFIMC, the Investment Department is responsible for voting proxies
or overseeing the voting of proxies related to issuers the shares of
which are held by one or more entities that have joined in the filing
of this report. Another division of Auto Company is responsible for
managing or overseeing the management of assets for which SFIMC is
responsible. Another division of Auto Company also is responsible for
voting proxies or overseeing the voting of proxies related to issuers the
shares of which SFIMC has investment discretion. Each insurance
company included in this report has established an Investment Committee
that oversees the activities of the Investment Department in managing the
firm's assets. The Trustees of the Qualified Plans perform a similar role
in overseeing the investment of each plan's assets.
Pursuant to Rule 13d-4 each person listed in the table below
expressly disclaims "beneficial ownership" as to all shares as to
which such person has no right to receive the proceeds of sale of the
security and disclaims that it is part of a "group".
Schedule 13G Page 11 of 11 Pages
Number of
Shares based
Classification on Proceeds
Name Under Item 3 of Sale
____ ______________ ____________
State Farm Mutual Automobile Insurance Company IC 16,635,608 shares
State Farm Life Insurance Company IC 364,398 shares
State Farm Life and Accident Assurance Company IC 2,257 shares
State Farm Fire and Casualty Company IC 2,615,804 shares
State Farm Investment Management Corp. IA 782,700 shares
State Farm Insurance Companies Employee
Retirement Trust EP 1,531,234 shares
------------------
21,932,001 shares