filings.toolsItem 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
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Item 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Common Stock Data— The Company's common stock is listed on the New York Stock Exchange under the trading symbol "ITW." There were approximately 4,484 holders of record of common stock as of January 31, 2024. This number does not include beneficial owners of the Company's securities held in the name of nominees.
*Assumes $100 invested on December 31, 2018, including reinvestment of dividends. Fiscal years ended December 31.
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The 2023 peer group consists of the following 17 public companies, consistent with the peer group included in the Company's Proxy Statement:
| 3M Company | Ecolab Inc. | Parker-Hannifin Corporation | ||||||
| Caterpillar Inc. | Emerson Electric Co. | PPG Industries, Inc. | ||||||
| Cummins Inc. | Fortive Corporation | Rockwell Automation, Inc. | ||||||
| Deere & Company | General Dynamics Corporation | Stanley Black & Decker, Inc. | ||||||
| Dover Corporation | Honeywell International Inc. | Trane Technologies plc | ||||||
| Eaton Corporation plc | Johnson Controls International plc |
The Compensation Committee of the Board of Directors of the Company reviews the peer group annually and from time to time changes the composition of the peer group where changes are appropriate. There were no changes in the Company's peer group in 2023.
Repurchases of Common Stock
On August 3, 2018, the Company announced a stock repurchase program which provided for the repurchase of up to $3.0 billion of the Company's common stock over an open-ended period of time (the "2018 Program"). The 2018 program was completed in the first quarter of 2022.
On May 7, 2021, the Company announced a stock repurchase program which provided for the repurchase of up to an additional $3.0 billion of the Company's common stock over an open-ended period of time (the "2021 Program"). The 2021 program was completed in the fourth quarter of 2023.
On August 4, 2023, the Company announced a new stock repurchase program which provides for the repurchase of up to an additional $5.0 billion of the Company's common stock over an open-ended period of time (the "2023 Program"). As of December 31, 2023, there were approximately $5.0 billion of authorized repurchases remaining under the 2023 Program.
Share repurchase activity under the Company's share repurchase programs for the fourth quarter of 2023 was as follows:
| In millions except per share amounts | |||||||||||||||||||||||
| Period | Total Number of Shares Purchased | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Programs | Maximum Value of Shares That May Yet Be Purchased Under Programs | |||||||||||||||||||
| October 2023 | 0.6 | $ | 229.18 | 0.6 | $ | 5,227 | |||||||||||||||||
| November 2023 | 0.6 | $ | 235.76 | 0.6 | $ | 5,096 | |||||||||||||||||
| December 2023 | 0.4 | $ | 253.48 | 0.4 | $ | 4,990 | |||||||||||||||||
| Total | 1.6 | 1.6 |
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