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
                                                                                  
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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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

KRAWITT ANDREW L 		2. Issuer Name and Ticker or Trading Symbol

CRANE CO /DE/ [ CR ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Vice President, Treasurer
(Last)          (First)          (Middle)

100 FIRST STAMFORD PLACE 		3. Date of Earliest Transaction (MM/DD/YYYY)

2/18/2011
(Street)

STAMFORD, CT 06902-6784
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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
CRANE CO. COMMON, PAR VALUE $1.00   2/18/2011     M    10000.0000   (1) A $40.7500   15722.0000   D    
CRANE CO. COMMON, PAR VALUE $1.00   2/18/2011     M    7500.0000   (2) A $36.4600   23222.0000   D    
CRANE CO. COMMON, PAR VALUE $1.00   2/18/2011     M    5000.0000   (3) A $36.6400   28222.0000   D    
CRANE CO. COMMON, PAR VALUE $1.00   2/18/2011     F    4222.0000   (3) D $40.8000   24000.0000   D    
CRANE CO. COMMON, PAR VALUE $1.00   2/18/2011     F    6315.0000   (2) D $40.8000   17685.0000   D    
CRANE CO. COMMON, PAR VALUE $1.00   2/18/2011     F    8969.0000   (1) D $40.8000   8716.0000   D    
CRANE CO. COMMON, PAR VALUE $1.00                  3770.0000   I   401(K)  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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
Employee Stock Option (Right to Buy)   $36.4600   2/18/2011     M         7500.0000   (2)     (4) 1/28/2014   CRANE CO. COMMON, PAR VALUE $1.00   7500.0000   $0.0000   2500.0000   D    
Employee Stock Option (Right to Buy)   $36.6400   2/18/2011     M         5000.0000   (3)     (5) 1/29/2013   CRANE CO. COMMON, PAR VALUE $1.00   5000.0000   $0.0000   0.0000   D    
Employee Stock Option (Right to Buy)   $40.7500   2/18/2011     M         10000.0000   (1)     (6) 9/25/2012   CRANE CO. COMMON, PAR VALUE $1.00   10000.0000   $0.0000   0.0000   D    

Explanation of Responses:
( 1)  Mr. Krawitt exercised 10,000 stock options priced at $40.75, at a market price of $48.80. The resulting after-tax gain was taken in the form of 1,031 shares of Crane Co. stock, resulting in a net increase in Mr. Krawitt's direct holdings by that amount, to 15,722 shares. Mr. Krawitt tendered 8,351 shares of previously owned stock to pay the exercise price of the options, and 618 shares were withheld to pay taxes on the resulting gain.
( 2)  Mr. Krawitt exercised 7,500 stock options priced at $36.46, at a market price of $48.80. The resulting after-tax gain was taken in the form of 1,185 shares of Crane Co. stock, resulting in a net increase in Mr. Krawitt's direct holdings by that amount, to 23,222 shares. Mr. Krawitt tendered 5,604 shares of previously owned stock to pay the exercise price of the options, and 711 shares were withheld to pay taxes on the resulting gain.
( 3)  Mr. Krawitt exercised 5,000 stock options priced at $36.64, at a market price of $48.80. The resulting after-tax gain was taken in the form of 778 shares of Crane Co. stock, resulting in a net increase in Mr. Krawitt's direct holdings by that amount, to 28,222 shares. Mr. Krawitt tendered 3,755 shares of previously owned stock to pay the exercise price of the options, and 467 shares were withheld to pay taxes on the resulting gain.
( 4)  The options vested 25% one year, 50% two years, 75% three years and 100% four years after the date of grant (01/28/2008).
( 5)  The options vested 25% one year, 50% two years, 75% three years and 100% four years after the date of grant (01/29/2007).
( 6)  The options vested 50% on the first, 75% on the second and 100% on the third anniversary of the grant date (09/25/2006).

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
KRAWITT ANDREW L
100 FIRST STAMFORD PLACE
STAMFORD, CT 06902-6784

Vice President, Treasurer

Signatures
Attorney In Fact, Christopher Dee 2/23/2011
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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.
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