- Statement of Changes in Beneficial Ownership (4)

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	OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5
	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 * KOPCZICK ELISE	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) V.P. - Human Resources
(Last)          (First)          (Middle) 100 FIRST STAMFORD PLACE	3. Date of Earliest Transaction (MM/DD/YYYY) 2/28/2012
(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	2/28/2012		M		20000.0000   (1)	A	$36.64	73088.0000	D
CRANE CO. COMMON, PAR VALUE $1.00	2/28/2012		F		17201.0000   (1)	D	$48.55	55887.0000	D
CRANE CO. COMMON, PAR VALUE $1.00								11938.0000	I	401(K)
CRANE CO. COMMON, PAR VALUE $1.00								6475.0000	I	DRP

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)	$36.64	2/28/2012		M			20000.0000   (1)	(2)	1/29/2013	CRANE CO. COMMON, PAR VALUE $1.00	20000.0000	$ 0	0.0000	D

Explanation of Responses:
( 1)	Ms. Kopczick exercised 20,000 stock options priced at $36.64, at a market price of $48.55. The resulting after-tax gain was taken in the form of 2,799 shares of Crane Co. Stock, resulting in a net increase in Ms. Kopczick's direct holdings by that amount, to 55,887 shares. Ms. Kopczick tendered 15,094 shares of previously owned stock to pay the exercise price of the options, and 2,107 shares were withheld to pay taxes on the resulting gain.
( 2)	This option vested 25% on the first, 50% on the second, 75% on the third and 100% on the fourth anniversary of the grant date (01/29/2007).

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
KOPCZICK ELISE 100 FIRST STAMFORD PLACE STAMFORD, CT 06902-6784			V.P. - Human Resources

Signatures
Attorney In Fact, Christopher Dee		3/1/2012
** 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.
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