Last $47.82 USD
Change Today +0.50 / 1.06%
Volume 1.9M
CIT On Other Exchanges
Symbol
Exchange
Berlin
New York
As of 8:04 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

cit group inc (CIT) Snapshot

Open
$47.31
Previous Close
$47.32
Day High
$47.97
Day Low
$47.29
52 Week High
01/9/14 - $52.72
52 Week Low
05/15/14 - $41.06
Market Cap
8.7B
Average Volume 10 Days
1.4M
EPS TTM
$5.21
Shares Outstanding
183.0M
EX-Date
11/7/14
P/E TM
9.2x
Dividend
$0.60
Dividend Yield
1.05%
Current Stock Chart for CIT GROUP INC (CIT)

cit group inc (CIT) Details

CIT Group Inc. operates as the holding company for CIT bank that provides commercial financing and leasing products; and a suite of savings options in the United States. The company operates in five segments: Corporate Finance, Transportation Finance, Trade Finance, Vendor Finance, and Consumer. The Corporate Finance segment offers lending, leasing, and other financial and advisory services to small and middle-market companies in various industries, such as commercial and industrial, communications, media and entertainment, healthcare, and energy. The Transportation Finance segment provides aircraft and railcar, leasing and financing solutions to operators and suppliers in the aviation and railcar industries. This segment also offers lending and other financial products and services to companies in the transportation sector, such as business aircraft, maritime, and aerospace and defense industries. The Trade Finance segment provides a range of domestic and international customized credit protection, lending, and outsourcing services that include working capital and term loans, factoring, receivables management products, bulk purchases of accounts receivable, import and export financing, and letter of credit programs to retail supply chain companies. The Vendor Finance segment partners with manufacturers, distributors, dealers, and product resellers to deliver financing and leasing solutions to end-user customers for the acquisition of equipment. The Consumer segment offers government-guaranteed student loan portfolios, which are in run-off. The company also provides account receivables collection, acquisition and expansion financing, asset management and servicing, credit protection, financial risk management, import and export financing, insurance, letters of credit, and mergers and acquisition advisory services, as well as debt restructuring, underwriting, and syndication services. CIT Group Inc. was founded in 1908 and is headquartered in Livingston, New Jersey.

3,330 Employees
Last Reported Date: 11/7/14
Founded in 1908

cit group inc (CIT) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $1.0M
President, Chairman of CIT Bank, Chief Execut...
Total Annual Compensation: $752.9K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $501.9K
President of Transportation & International F...
Total Annual Compensation: $501.9K
Chief Risk Officer and Executive Vice Preside...
Total Annual Compensation: $501.9K
Compensation as of Fiscal Year 2013.

cit group inc (CIT) Key Developments

CIT Signs Purchase Agreements with Airbus for 15 A330-900neo and Five A321-200ceo Aircraft

CIT Group Inc. announced that CIT Aerospace has signed purchase agreements with Airbus for 15 A330-900neo (new engine option) aircraft and five A321-200ceo (current engine option) aircraft. Deliveries of the A330-900neo are scheduled to begin in 2018 and deliveries of the A321-200ceo are scheduled to begin in 2015. The A330-800neo and the A330-900neo are two new members of the Airbus Widebody Family launched in July 2014 with first deliveries scheduled to start in Fourth Quarter 2017. The A330neo incorporates latest generation Rolls-Royce Trent 7000 engines, aerodynamic enhancements and new cabin features. Benefitting from the unbeatable economics, versatility and high reliability of the A330, the A330neo reduces fuel consumption by 14% per seat, making it the most cost efficient, medium range Widebody aircraft on the market. In addition to greater fuel savings, A330neo operators will also benefit from a range increase of up to 400 nautical miles and of course all the operational commonality advantages of the Airbus Family.

CIT Group Inc. Presents at Goldman Sachs U.S. Financial Services Conference 2014, Dec-09-2014 08:00 AM

CIT Group Inc. Presents at Goldman Sachs U.S. Financial Services Conference 2014, Dec-09-2014 08:00 AM. Venue: Conrad Hotel, 102 North End Avenue, New York, NY 10282, United States. Speakers: John A. Thain, Chairman and Chief Executive Officer.

CIT Business Aircraft Finance Announces Executive Changes

CIT Business Aircraft Finance has appointed Ron Walls as vice president, equipment management; Jose Munoz as vice president of sales, Latin America; Nicole Halverson as vice president, aircraft trading and syndications; Michael Francis as vice president of sales, North America - East; and Craig Roy as assistant vice president of sales, North America - West. In his new role, Ron is responsible for valuations and management of CIT's business aircraft portfolio. Jose Luis Munoz will be responsible for sales initiatives and strategy for the region and will be based in Mexico City. Prior to CIT, Munoz spent the last four years in GE Capital's Corporate Aircraft Finance group, where he originated and structured leases and loans for corporate accounts in Mexico. Nicole Halverson will be responsible for optimizing the business aircraft portfolio through acquisitions, syndications and divestments. Most recently, she was vice president, Sales, Americas, where she managed CIT's originations of business aircraft financings throughout Latin America. Michael Francis will be responsible for new business development in the US east of the Mississippi River as well as in the Caribbean. Prior to CIT, he managed private aviation for a family office and was a sales manager for a fractional aircraft ownership company. Craig Roy will be responsible for originations in the US west of the Mississippi River. Most recently, he managed indirect originations and syndications for CIT Business Aircraft Finance.

 

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Industry Analysis

CIT

Industry Average

Valuation CIT Industry Range
Price/Earnings 9.5x
Price/Sales 3.7x
Price/Book 1.0x
Price/Cash Flow 8.7x
TEV/Sales NM Not Meaningful
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