FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Parry David C 		2. Issuer Name and Ticker or Trading Symbol

ILLINOIS TOOL WORKS INC [ ITW ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Vice Chairman
(Last)          (First)          (Middle)

ILLINOIS TOOL WORKS INC., 155 HARLEM AVENUE 		3. Date of Earliest Transaction (MM/DD/YYYY)

2/14/2017
(Street)

GLENVIEW, IL 60025
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   2/14/2017     M    12724   A $0   13308   D    
Common Stock   2/14/2017     F    4694   D $129.60   8614   D    
Common Stock                  1203   I   See Footnote   (1)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option   $98.26                    2/13/2016   (2) 2/13/2025   Common Stock   48590.0     48590   D    
Employee Stock Option   $91.88                    2/12/2017   (2) 2/12/2026   Common Stock   49950.0     49950   D    
Employee Stock Option   $78.59                    2/14/2015   (2) 2/14/2024   Common Stock   66006.0     66006   D    
Employee Stock Option   $55.71                    2/10/2013   2/10/2022   Common Stock   108885.0     108885   D    
Employee Stock Option   $63.25                    2/15/2014   2/15/2023   Common Stock   101729.0     101729   D    
Performance Restricted Stock Unit (granted 2/12/2016)   (3) $0.0                      (4)   (4) Common Stock   10883.0     10883   D    
Performance Restricted Stock Unit (granted 2/13/15)   (3) $0.0                      (4)   (4) Common Stock   10177.0     10177   D    
Performance Restricted Stock Unit (granted 2/14/2014)   (3) $0.0   2/14/2017     M         12724      (5)   (5) Common Stock   12724.0   $0   0   D    
Employee Stock Option   $128.0                    2/10/2018   (2) 2/10/2027   Common Stock   55907.0     55907   D    
Performance Share Units (granted 2/10/17)   (3) $0.0                      (4)   (4) Common Stock   5859.0     5859   D    

Explanation of Responses:
( 1)  Shares of common stock allocated to my account in the Illinois Tool Works Inc. Savings & Investment Plan--Information reported as of February 14, 2017.
( 2)  Options vest in four (4) equal annual installments beginning one year from date of grant.
( 3)  Each performance restricted stock unit (PRSU) and performance share unit (PSU) represents a contingent right to receive one share of the Company's common stock.
( 4)  Each PRSU and PSU vests 100% three years from the date of grant if performance goals are met.
( 5)  The PRSU award became vested and payable on February 14, 2017.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Parry David C
ILLINOIS TOOL WORKS INC.
155 HARLEM AVENUE
GLENVIEW, IL 60025

Vice Chairman

Signatures
David C. Parry by Janet O. Love, Deputy General Counsel & Assistant Secretary, Attorney-In-Fact POA on File 2/16/2017
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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