The aerospace/defense industry closed the day down 1%. Astrotech ( ASTC), Astronics Corporation ( ATRO), LMI Aerospace Inc ( LMIA), and Moog Inc ( MOG.A) were all decliners today within the aerospace/defense industry with FLIR Systems Inc ( FLIR) being today's featured aerospace/defense loser. FLIR Systems Inc fell 64 cents (-2.3%) to $26.92 on light volume. Throughout the day, 1.2 million shares of FLIR Systems Inc exchanged hands as compared to its average daily volume of 1.8 million shares.

FLIR Systems, Inc. designs, manufactures, and markets thermal imaging systems worldwide. The company operates through two divisions, Commercial Systems and Government Systems. FLIR Systems Inc has a market cap of $4.2 billion and is part of the industrial goods sector. The company has a P/E ratio of 20.7, above the average aerospace/defense industry P/E ratio of 20.1 and above the S&P 500 P/E ratio of 17.7. Shares are down 7.4% year to date as of the close of trading on Tuesday.

TheStreet Ratings rates FLIR Systems as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including premium valuation, weak operating cash flow and deteriorating net income.

On the positive front, American Defense Systems Inc ( EAG), TAT Technologies ( TATT), CAE Inc ( CAE), and Aerovironment Incorporated ( AVAV) were all gainers within the aerospace/defense industry with Embraer S.A ( ERJ) being today's featured aerospace/defense industry winner.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the aerospace/defense industry could consider iShares DJ US Aerospace & Def Idx ( ITA) while those bearish on the aerospace/defense industry could consider ProShares Short Dow 30 ( DOG).