Cutting tool with shank portion configured for limiting rotation and controlling orientation of the tool

A cutting tool, comprising:

• a cutting tool body that is generally symmetrically formed about a central longitudinal axis of the cutting tool, the cutting tool body including a cutting head at a distal end portion of the cutting tool, the cutting head including a cutting member;
• a shank axially rearward of and connected to the cutting head, the shank including a retaining groove provided therein;
• a friction ring disposed within the retaining groove;
• and
• a retainer ring secured about the friction ring,
• wherein the friction ring has a coefficient of friction greater than that of the retainer ring.

A cutting tool assembly comprising:

• a cutting tool holder having a central longitudinal axis;
• and
• a cutting tool at least partially disposed within a substantially cylindrical chamber of the cutting tool holder, the cutting tool including
• a cutting tool body including
• a cutting head at a distal end portion of the cutting tool, the cutting head including a cutting member, and
• a shank axially rearward of and connected to the cutting head, the shank including a retaining groove provided therein at a proximal portion of the shank,
• a friction ring positioned within the retaining groove, and
• a retainer ring secured about the friction ring,
• wherein the retainer ring is partially disposed within the retaining groove.