by Muhammad means “often praised“, or “worthy of praise“. Abdul-Muttalib ibn Hashim accepted the unique and unfamiliar name to the Arabs of the time because his wish was that his grandson (ﷺ) would be praised by mankind on earth and by God in heaven.[1]Ibn Sayyid al-Nas, ‘Uyun al-Athar, Dar al-Turath, Madinah, 1996, pp.90[2]Muhammad Man and Prophet, A Complete Study of the Life of the Prophet of Islam by Adil Salahi pg.24
Background
After the easy pregnancy Aaminah bint Wahb and unchallenging delivery, Abdul-Muttalib ibn Hashim overjoyed took the newborn (ﷺ) to the Kabaah and prayed at length to show gratitude for the blessing of a grandson (ﷺ) to carry on the name of his deceased son Abdullah ibn Abdul-Muttalib. When he returned Aaminah stated she heard voices commanding her to give the child the unfamiliar name Muhammad (ﷺ).[3]Ibn Hisham, al-Sirah al-Nabawiyyah, Dar al-Qalam, Beirut, Vol.1, pp.168-169