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No. of Recommendations: 3
The main differences between the shares are as follows:

Class A shares were created as a result of the infamous (read: disastrous) Hughes merger. Class A shares have 80.1% of the voting rights and are considered to represent the "new Raytheon" as a whole. The difference in voting rights was created to make the transaction tax-free for GM stockholders (from which Hughes Defense was purchased).

Class B shares hold the other 19.9% of the voting rights. They are considered to represent the "old" Raytheon. As such, only RTN.B is part of the S&P 500.

Beyond that, there's not much difference. In the past, RTN.B traded about a half point higher than RTN.A, but recently RTN.A has been trading about one to two dollars higher. If you're brave enough to jump into RTN at all, you may as well go for RTN.B while it's cheaper.

Good resources:
Post 189 describes the differences pretty well.
Post 193 links to an article about Hughes that contains some info about the merger.
Raytheon's website describes the difference (info is about a year old, but still accurate):
http://investor.raytheon.com/dual2.cfm
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