Gimbal ring
 

I,ve replaced lots of gimbal rings. I would install a heavy duty kit avaibile from Merc. You don't need to remove the engine either. Just drill transom assy or drill decal area open at top of gimbal to gain access to shaft and nut. Teague Custom Marine has a Stainless cover that goes where decal used to go. The whole job takes about 7 hrs start to finish. Good Luck!!!
PS e-mail and I can give you part ##s About 1200$ for kit retail