Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0104
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
  DALY JOHN F
2. Date of Event Requiring Statement (Month/Day/Year)
05/08/2007
3. Issuer Name and Ticker or Trading Symbol
CIT GROUP INC [CIT]
(Last)
(First)
(Middle)
C/O CIT GROUP, 11 WEST 42ND STREET
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President, Trade Finance
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10036
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 13,841
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Option (Right to Buy)   (1)(2) 01/17/2014 Common Stock 4,445 $ 56.54 D  
Option (Right to Buy)   (1)(3) 07/19/2013 Common Stock 8,000 $ 47.28 D  
Option (Right to Buy)   (1)(4) 01/18/2013 Common Stock 7,059 $ 51.43 D  
Option (Right to Buy)   (1)(5) 07/19/2015 Common Stock 25,000 $ 43.01 D  
Option (Right to Buy)   (1)(6) 01/18/2015 Common Stock 25,000 $ 41.89 D  
Option (Right to Buy) 07/21/2007(7) 07/21/2014 Common Stock 33,334 $ 37.6 D  
Option (Right to Buy) 01/21/2007(8) 01/21/2014 Common Stock 11,667 $ 39.22 D  
Option (Right to Buy) (9) (11) (12) 07/02/2002(10) 03/05/2009 Common Stock 8,258 $ 74.4731 D  
Option (Right to Buy) (9) (12) (13) 07/02/2002(10) 11/19/2008 Common Stock 4,542 $ 70.2409 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
DALY JOHN F
C/O CIT GROUP
11 WEST 42ND STREET
NEW YORK, NY 10036
      President, Trade Finance  

Signatures

/s/ James P. Shanahan, attorney-in-fact for Mr. Daly 05/16/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(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).
(1) Options vest in increments of 1/3 per year on the anniversary of the grant date for a period of 3 years.
(2) Options granted 1/17/2007.
(3) Options granted 7/19/2006.
(4) Options granted 1/18/2006.
(5) Options granted 7/19/2005.
(6) Options granted 1/18/2005.
(7) Options fully vest on 7/21/2007.
(8) Options fully vested on 1/21/2007.
(9) Due to CIT?s IPO, Tyco options were cancelled by Tyco and replaced by CIT on 7//2/2002 with CIT options vesting under the same schedule as the Tyco options. The Tyco to CIT conversion formula is disclosed in CIT Group Inc. Prospectus dated 7/1/02 ?Management ? Treatment of Tyco Options and Tyco Restricted Shares Held by CIT Employees?.
(10) Options were fully vested on 7/2/2002.
(11) Options granted by The CIT Group, Inc. on 3/5/1999.
(12) CIT options converted on 6/1/2001 into options of Tyco International Ltd. at the rate of .6907 Tyco option for 1 CIT option upon Tyco's acquisition of CIT.
(13) Options granted by The CIT Group, Inc. on 11/19/1998.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.