    Rae means 'grace', though some will tell you it is a shortened form of either Rachael (meaning ewe, female sheep) or Raymond (meaning protector, wise protector, pr … otecting hands, warrior etc.).Rae itself is Scottish, whereas Rachael is of course Hebrew and Raymond is German or Old Teutonic.   Rae means 'grace', though some will tell you it is a shortened form of either Rachael (meaning ewe, female sheep) or Raymond (meaning protector, wise protector, pr … otecting hands, warrior etc.).