<SEC-DOCUMENT>0001225208-16-038115.txt : 20160818
<SEC-HEADER>0001225208-16-038115.hdr.sgml : 20160818
<ACCEPTANCE-DATETIME>20160818172445
ACCESSION NUMBER:		0001225208-16-038115
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20160816
FILED AS OF DATE:		20160818
DATE AS OF CHANGE:		20160818

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CRANE CO /DE/
		CENTRAL INDEX KEY:			0000025445
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS FABRICATED METAL PRODUCTS [3490]
		IRS NUMBER:				131952290
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		CRANE CO.
		STREET 2:		100 FIRST STAMFORD PLACE
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06902
		BUSINESS PHONE:		203-363-7300

	MAIL ADDRESS:	
		STREET 1:		CRANE CO.
		STREET 2:		100 FIRST STAMFORD PLACE
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06902

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Lavish James A.
		CENTRAL INDEX KEY:			0001664570

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-01657
		FILM NUMBER:		161841572

	MAIL ADDRESS:	
		STREET 1:		100 FIRST STAMFORD PLACE
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06902
</SEC-HEADER>
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<SEQUENCE>1
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    <periodOfReport>2016-08-16</periodOfReport>

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        <issuerCik>0000025445</issuerCik>
        <issuerName>CRANE CO /DE/</issuerName>
        <issuerTradingSymbol>CR</issuerTradingSymbol>
    </issuer>

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        <reportingOwnerId>
            <rptOwnerCik>0001664570</rptOwnerCik>
            <rptOwnerName>Lavish James A.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>100 FIRST STAMFORD PLACE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>STAMFORD</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06902-6784</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOfficer>1</isOfficer>
            <officerTitle>VP, CBS, People &amp; Performance</officerTitle>
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    </reportingOwner>

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            </securityTitle>
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                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                    <value>64.3000</value>
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                <directOrIndirectOwnership>
                    <value>D</value>
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        <nonDerivativeTransaction>
            <securityTitle>
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            </securityTitle>
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            </transactionDate>
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                <transactionCode>F</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                <transactionShares>
                    <value>2503.0000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>64.3000</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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            <securityTitle>
                <value>CRANE CO. COMMON, PAR VALUE $1.00</value>
            </securityTitle>
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                <sharesOwnedFollowingTransaction>
                    <value>37.0000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
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                <directOrIndirectOwnership>
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                    <value>401(K)</value>
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        </nonDerivativeHolding>
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            <securityTitle>
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                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>DRP</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
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    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Employee Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>50.0300</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2016-08-16</value>
            </transactionDate>
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                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.0000</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
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            <expirationDate>
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            </expirationDate>
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                <underlyingSecurityTitle>
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                </underlyingSecurityTitle>
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                </underlyingSecurityShares>
            </underlyingSecurity>
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            </securityTitle>
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                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
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                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.0000</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <footnoteId id="F5"/>
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            <expirationDate>
                <value>2025-01-26</value>
            </expirationDate>
            <underlyingSecurity>
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                    <value>CRANE CO. COMMON, PAR VALUE $1.00</value>
                </underlyingSecurityTitle>
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                    <value>2622.0000</value>
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                </directOrIndirectOwnership>
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            </securityTitle>
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                <transactionCode>M</transactionCode>
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                    <value>1300.0000</value>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.0000</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <footnoteId id="F6"/>
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            <expirationDate>
                <value>2019-01-28</value>
            </expirationDate>
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                <underlyingSecurityTitle>
                    <value>CRANE CO. COMMON, PAR VALUE $1.00</value>
                </underlyingSecurityTitle>
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                </underlyingSecurityShares>
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                    <value>1300.0000</value>
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    <footnotes>
        <footnote id="F1">Mr. Lavish exercised 2,662 stock options, priced at $58.47 and due to expire January 2025, at a market price of $64.30.  The resulting after tax gain was taken in the form of 159 shares of Crane Co. Stock, resulting in a net increase in Mr. Lavish's direct holdings by that amount.  Mr. Lavish tendered 2,421 shares of previously owned stock to pay the exercise price of the options, and 82 shares were withheld to pay taxes on the resulting gain.</footnote>
        <footnote id="F2">Mr. Lavish exercised 2,500 stock options, priced at $50.03 and due to expire January 2018, at a market price of $64.30.  The resulting after tax gain was taken in the form of 367 shares of Crane Co. Stock, resulting in a net increase in Mr. Lavish's direct holdings by that amount.  Mr. Lavish tendered 1,946 shares of previously owned stock to pay the exercise price of the options, and 187 shares were withheld to pay taxes on the resulting gain.</footnote>
        <footnote id="F3">Mr. Lavish exercised 1,300 stock options, priced at $48.59 and due to expire January 2019, at a market price of $64.30.  The resulting after tax gain was taken in the form of 210 shares of Crane Co. Stock, resulting in a net increase in Mr. Lavish's direct holdings by that amount.  Mr. Lavish tendered 983 shares of previously owned stock to pay the exercise price of the options, and 107 shares were withheld to pay taxes on the resulting gain.</footnote>
        <footnote id="F4">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 (01/23/2012)</footnote>
        <footnote id="F5">The remaining 50% will vest on the third and fourth anniversary of the grant date (01/26/2015).</footnote>
        <footnote id="F6">The remaining 25% will vest on the fourth anniversary of the grant date (1/28/2013).</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Attorney In Fact, Christopher Dee</signatureName>
        <signatureDate>2016-08-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</SEC-DOCUMENT>
