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3 FTSE Shares Hitting New Highs

LONDON -- The FTSE 100 (FTSEINDICES: ^FTSE  ) has made small gains today, up 0.41% to 6,405 points. Though Japan was positive overnight, with the Nikkei hitting a new five-year high, some major FTSE companies are trading ex-dividend today, holding the U.K.'s top index back a bit.

But we have plenty of individual companies on the up. Let's take a look at three setting new records.

Rolls-Royce (LSE: RR  )
Rolls-Royce Holdings has been a pretty solid investment over the past five years, and its share price has climbed further since the start of this year, closing on a new 52-week high yesterday of 1,043 -- and it's another 1.3% higher today, at 1,057 pence.

Full-year results released last week revealed an 8% rise in underlying revenue to 12.2 billion pounds, with pre-tax profit up 24% to 1.4 billion pounds. That enabled the company to lift its dividend by 11% to 19.5 pence. After all that, the shares are on a price-to-earnings ratio based on 2013 forecasts of 16, which many will see as modest for a strong company.

Legal & General (LSE: LGEN  )
Legal & General shares are on a 52-week high of 157 pence as I write, having gained about 25% over the past year, in line with a number of recovering financial shares. Expectations for 2012, which include a 13% rise in earnings per share, put the shares on a P/E of only 11, with a dividend yield of 4.9%.

Results are due on March 6, and judging by November's third-quarter update, full-year expectations should be met. With further earnings growth forecast for the next two years dropping the P/E to 10 by December 2014, is there are bargain here? That's for you to decide.

Invensys (LSE: ISYS  )
Shares in Invensys soared 50% in November when the engineering and software specialist announced the planned disposal of Invensys Rail for 1.74 billion pounds, and they've carried on climbing since. The price today has reached a new 52-week high of 363 pence for a 12-month gain of 65%.

January's third-quarter update told us that the firm's good start to the year was continuing and that it expects performance for the year as a whole to improve. The disposal of Invensys Rail is on course for completion in the second calendar quarter this year.

If you're looking for potential growth shares, identifying the best prospects can be a tricky task that's not without its risks -- so we should welcome all the help we can get. With that in mind, I recommend you get yourself a copy of our brand-new report "The Motley Fool's Top Growth Share For 2013," which is the result of some serious brain-work by the Fool's top analysts. It's completely free of charge, but it will be available for a limited period only. So click here to get your copy today.

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