Briar Hall Management Boosts Illinois Tool Works Stake to 26.1M Shares
Ticker: ITW · Form: SC 13G/A · Filed: Feb 5, 2024 · CIK: 49826
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**Briar Hall Management holds over 26 million shares of Illinois Tool Works, signaling strong institutional conviction.**
AI Summary
Briar Hall Management LLC, a Tennessee-based investment firm, filed an amended SC 13G/A on February 5, 2024, disclosing its ownership in Illinois Tool Works Inc. As of December 31, 2023, Briar Hall beneficially owned 26,157,274 shares of common stock, representing a significant stake. This filing indicates a substantial, continued investment by a major institutional holder, which can signal confidence in the company's long-term prospects to other investors.
Why It Matters
This filing shows a major institutional investor, Briar Hall Management LLC, maintains a substantial position in Illinois Tool Works, which can be interpreted as a vote of confidence in the company's future performance.
Risk Assessment
Risk Level: low — This filing indicates a stable, significant institutional ownership, which generally reduces volatility and provides a level of confidence.
Analyst Insight
Investors should note the continued strong institutional backing from Briar Hall Management LLC, which could signal long-term stability and confidence in Illinois Tool Works Inc. This might encourage further research into the company's fundamentals.
Key Numbers
- 26,157,274 — Aggregate shares beneficially owned (Total shares of Illinois Tool Works Inc. held by Briar Hall Management LLC)
- 25,126,174 — Sole voting power shares (Shares over which Briar Hall Management LLC has sole voting and dispositive power)
- 1,031,100 — Shared voting power shares (Shares over which Briar Hall Management LLC has shared voting and dispositive power)
- 20240205 — Filing date (The date the SC 13G/A amendment was filed with the SEC)
Key Players & Entities
- Briar Hall Management LLC (company) — the reporting person and institutional investor
- Illinois Tool Works Inc. (company) — the issuer whose shares are being reported
- Gillian L. Nagler (person) — Vice President of Briar Hall Management LLC, authorized to receive notices
- Tennessee (company) — state of organization for Briar Hall Management LLC
- December 31, 2023 (date) — date of the event requiring the filing
Forward-Looking Statements
- Briar Hall Management LLC will likely maintain its significant stake in Illinois Tool Works Inc. for the foreseeable future. (Briar Hall Management LLC) — medium confidence, target: 2025-12-31
FAQ
Who is the reporting person in this SC 13G/A filing?
The reporting person is Briar Hall Management LLC, as stated in the 'Names of reporting persons' section on Page 2 of 6.
What is the total number of shares of Illinois Tool Works Inc. beneficially owned by Briar Hall Management LLC as of December 31, 2023?
As of December 31, 2023, Briar Hall Management LLC beneficially owned an aggregate of 26,157,274 shares, as indicated in Row (9) of the Schedule 13G cover page.
What is the CUSIP number for Illinois Tool Works Inc. common stock mentioned in the filing?
The CUSIP number for Illinois Tool Works Inc. common stock is 452308 10 9, as listed on the cover page and Page 2 of 6 of the filing.
Which rule under the Securities Exchange Act of 1934 is this Schedule 13G filed pursuant to?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the checked box on the first page of the filing.
Who is authorized to receive notices and communications for Briar Hall Management LLC, and what is their contact information?
Gillian L. Nagler, Vice President of Briar Hall Management LLC, is authorized to receive notices and communications. Her address is 511 Union Street, Suite 735, Nashville, TN 37219, and her telephone number is 615-850-6505, as stated on the first page of the filing.
Filing Stats: 1,137 words · 5 min read · ~4 pages · Grade level 10.4 · Accepted 2024-02-05 09:50:44
Filing Documents
- tm245125d1_sc13ga.htm (SC 13G/A) — 51KB
- 0001104659-24-010391.txt ( ) — 53KB
If this statement is filed pursuant to sections 240.13d-1(b),
Item 3. If this statement is filed pursuant to sections 240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act. (b) Bank as defined in section 3(a)(6) of the Act. (c) Insurance company as defined in section 3(a)(19) of the Act. (d) Investment company registered under section 8 of the Investment Company Act of 1940. (e) An investment advisor in accordance with section 240.13d-1(b)(1)(ii)(E). (f) An employee benefit plan or endowment fund in accordance with section 240.13d-1(b)(1)(ii)(F). (g) A parent holding company or control person in accordance with section 240.13d-1(b)(ii)(G). (h) A savings association as defined in section 3(b) of the Federal Deposit Insurance Act. (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940. (j) Group, in accordance with section 240.13d-1(b)(1)(ii)(J). Item 4. (a) Amount beneficially owned: 26,157,274 shares (b) Percent of class: 8.7% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: 25,126,174 (ii) Shared power to vote or to direct the vote: 1,031,100 (iii) Sole power to dispose or to direct the disposition of: 25,126,174 (iv) Shared power to dispose or to direct the disposition of: 1,031,100 Item 5. 5 Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following: Item 6. More than 5 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