Displacement is way too high

Let me start by saying I am essentially self-taught when it comes to simulate. I have no training aside from a few examples on SolidWorks back in college (six years ago). I understand the mathematical concepts of FEA, but my practical knowledge has proven to be frustratingly lacking. So please forgive me if I am unable to frame my question properly in technical terms.

I am doing an analysis on a lifting device designed to retrieve and replace large tools from shelves. It is basically a "hook" to reach into the shelf to grab the tools using a hoist.

So far, I have only attempted static analysis. Is that sufficient? Do I need to do a more complex analysis? If so, that's a whole other can of worms for a later discussion.

My immediate problem is a huge discrepancy between stress and displacement in my static analysis. You can see my method and results via the attached screen captures.

Stress looks good - well under yield strength. The displacement is another story. Where am I going wrong? Are my constraints/loads incorrect? Is it a units problem?

For reference, the distance between the two holes is 44-3/8". The part was plasma cut from 1/2" SA36 plate. And FYI, this tool has already been in use for a while. This company is run by veteran welders and machinists. Engineering is somewhat of an afterthought.

Any guidance would be appreciated.

Thanks!

Luke