Michael is the name of one of the greatest of Allah (SWT). It is mentioned in many books that Michael is responsible of Rizq and rain and plants. In Saheefa Sajjadia which is narrated from Imam Zainul Adibeen Al-Sajjad (AS) in the Du'a for the Angels of Alla : And Angle Michael, who has the great status with You, and the high degree in Your Obedience.
ميكائيل ذو الجاه عندك والمكان الرفيع من طاعتك ».
It is allowed to name our kids after the name of Michael.
The name of this great angle in Quran is Meekaal.ميكال (Sura 2, Verse 98).