What is the authenticity of the hadith: “Whoever is named Muhammad, do not strike him”?

Q: I read a hadith; what is its degree of authenticity? It is: “Whoever is named Muhammad, do not strike him and do not insult him.”
A: This hadith is fabricated and made up about the Messenger of Allah (peace and blessings be upon him), and there is no basis for it in the pure Sunnah. Likewise, the statement of those who say: “Whoever is named Muhammad has a pledge of safety from Muhammad, and he is likely to enter Paradise because of it,” and likewise those who say: “Whoever is named Muhammad, his house will be such and such for them.” All these reports have no basis in truth. The criterion is following Muhammad, not his name (peace and blessings be upon him). How many are there who are named Muhammad but are vile, because they did not follow Muhammad and did not submit to his Shari'ah? Names do not purify people; rather, their righteous deeds and their mindfulness of Allah (Exalted and Majestic is He) purify them. So, if someone takes the name Ahmad, or Muhammad, or Abu al-Qasim, and he is a disbeliever or an open sinner, that does not benefit him. Rather, it is obligatory for the servant to fear Allah, to act in obedience to Allah, and to adhere to the Shari'ah of Allah with which He sent His Prophet Muhammad. This is what benefits him, and it is the path of salvation and safety. As for mere names without acting upon the pure Shari'ah, neither salvation nor punishment is attached to them. Al-Busiri erred in his Burdah when he said:
For I have a pledge of safety from Him by my naming
Muhammad, and He is the most faithful of creation in keeping pledges

And he erred with an even greater error by saying:
O most noble of creation, to whom shall I take refuge
other than You when the general calamity befalls
If You are not among my enemies taking my hand
out of favor, otherwise say: O slip of the foot
For from Your generosity is the world and its counterpart
And from Your knowledge is the knowledge of the Tablet and the Pen
So this poor man made his refuge in the Hereafter in the Messenger (peace and blessings be upon him) other than Allah (Glorified and Exalted is He), and mentioned that he would be perishing if He did not take his hand. He forgot Allah (Glorified and Exalted is He), in Whose hand is harm and benefit, giving and withholding, and Who is the One who saves His awliya (close friends of Allah) and those who obey Him. He made the Messenger (peace and blessings be upon him) the owner of the world and the Hereafter, and that it is part of His generosity. He made Him know the unseen, and that among His knowledge is the knowledge of what is in the Tablet and the Pen. This is explicit disbelief and an excess of exaggeration above which there is no exaggeration. We ask Allah for safety and well-being. If he died upon that and did not repent, he died upon the ugliest of disbelief and misguidance. It is obligatory for every Muslim to beware of this exaggeration and not to be deceived by the Burdah and its author. And Allah is the One to be sought for help, and there is no power or strength except with Allah.