I wouldn't trust the handles for an extended suspended period either. I would put a couple straps under the hull and hoist it from those rather than trust the screws securing the side rails or the hand rails.
And the side rails appear to me to be better lifting points than the handles on the ends.
Not to me they don't, but I have a PA-14 and there is no way I see those side rails as being strong enough to support the full weight of the kayak. IMO they are barely strong enough for mount accessories and mine work loose after a few trips and need to be retightened. If you want to lift/transport a PA use the handles, that's what they are there for, but again I would not trust them to suspend a kayak in the air for any period of time.