Posy, The meaning of "it" is:
It It (i^t), pron. OE. it, hit, AS. hit; cf. D. het.
root181. See He.
The neuter pronoun of the third person, corresponding to the
masculine pronoun he and the feminine she, and having the
same plural (they, their or theirs, them).
1913 Webster
Note: The possessive form its is modern, being rarely found
in the writings of Shakespeare and Milton, and not at
all in the original King James's version of the Bible.
During the transition from the regular his to the
anomalous its, it was to some extent employed in the
possessive without the case ending. See His, and
He. In Dryden's time its had become quite established
as the regular form.
1913 Webster
Pangor