Cutting tool

The invention resides in the field of cutting tools for use in cutting various shapes in workpieces, and where the cutting inserts or bits need to be changed or adjusted as the work progresses. A cutting tool having a shank held in a chuck. Mounted in the shank is an insert holder and a carbide insert held therein. The insert holder extends radially beyond the shank, with the insert on its extended end. The insert can be adjusted as to radial extension, by swingable adjustment, and held in adjusted position by tightening the holder. A gear is provided for swinging the holder, and a visual dial is provided to show the position of adjustment.