Ownership Submission
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

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
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(Print or Type Responses)
1. Name and Address of Reporting Person *
HALLMAN THOMAS B
   2. Issuer Name and Ticker or Trading Symbol
CIT GROUP INC [CIT] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Vice Chairman, Specialty Fin.
(Last)
(First)
(Middle)
C/O CIT GROUP INC., 1 CIT DRIVE, #3213		 3. Date of Earliest Transaction (Month/Day/Year)
02/01/2007
(Street)

LIVINGSTON, NJ 07039		 4. If Amendment, Date Original Filed(Month/Day/Year)
 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 Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction 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 02/01/2007   M(2)   55,576 A $ 23 122,569.5417 D  
Common Stock 02/01/2007   S(3)   100 D $ 58.03 122,469.5417 D  
Common Stock 02/01/2007   S   700 D $ 58.05 121,769.5417 D  
Common Stock 02/01/2007   S   200 D $ 58.06 121,569.5417 D  
Common Stock 02/01/2007   S   100 D $ 58.07 121,469.5417 D  
Common Stock 02/01/2007   S   400 D $ 58.09 121,069.5417 D  
Common Stock 02/01/2007   S   200 D $ 58.1 120,869.5417 D  
Common Stock 02/01/2007   S   300 D $ 58.11 120,569.5417 D  
Common Stock 02/01/2007   S   200 D $ 58.12 120,369.5417 D  
Common Stock 02/01/2007   S   100 D $ 58.13 120,269.5417 D  
Common Stock 02/01/2007   S   100 D $ 58.14 120,169.5417 D  
Common Stock 02/01/2007   S   200 D $ 58.15 119,969.5417 D  
Common Stock 02/01/2007   S   200 D $ 58.16 119,769.5417 D  
Common Stock 02/01/2007   S   200 D $ 58.17 119,569.5417 D  
Common Stock 02/01/2007   S   100 D $ 58.2 119,469.5417 D  
Common Stock 02/01/2007   S   100 D $ 58.21 119,369.5417 D  
Common Stock 02/01/2007   S   100 D $ 58.22 119,269.5417 D  
Common Stock 02/01/2007   S   200 D $ 58.24 119,069.5417 D  
Common Stock 02/01/2007   S   300 D $ 58.26 118,769.5417 D  
Common Stock 02/01/2007   S   100 D $ 58.27 118,669.5417 D  
Common Stock 02/01/2007   S   200 D $ 58.29 118,469.5417 D  
Common Stock 02/01/2007   S   300 D $ 58.31 118,169.5417 D  
Common Stock 02/01/2007   S   500 D $ 58.32 117,669.5417 D  
Common Stock 02/01/2007   S   1,200 D $ 58.33 116,469.5417 D  
Common Stock 02/01/2007   S   400 D $ 58.34 116,069.5417 D  
Common Stock 02/01/2007   S   300 D $ 58.36 115,769.5417 D  
Common Stock 02/01/2007   S   3,200 D $ 58.37 112,569.5417 D  
Common Stock 02/01/2007   S   600 D $ 58.38 111,969.5417 D  
Common Stock 02/01/2007   S   1,576 D $ 58.39 110,393.5417 D  
Common Stock 02/01/2007   S   1,900 D $ 58.4 108,493.5417 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction 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
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(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
Option (Right to Buy) $ 23 02/01/2007   M(2)     55,576 07/02/2006(1) 07/02/2012 Common Stock 55,576 $ 0 269,026 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HALLMAN THOMAS B
C/O CIT GROUP INC.
1 CIT DRIVE, #3213
LIVINGSTON, NJ 07039		       Vice Chairman, Specialty Fin.  

Signatures

 /s/ James P. Shanahan, attorney-in-fact for Mr. Hallman   02/02/2007
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) Options vest in 25% increments on the anniversary of the grant date for a period of 4 years and shall be 100% vested on July 2, 2006.
(2) Option exercise and sale of shares in accordance with a written plan established 12-20-2006 pursuant to the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.
(3) This Form 4 filing reports the first 29 sales of shares resulting from the exercise of options. The balance of sales will be reported on 2 additional Form 4 filings being submitted simultaneously herewith.

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