Yes. Serial provides a "Flash DTR" command, accessible while the Shift key is held down within the "Terminal" menu, or via the Command-Shift-D keyboard shortcut. This will toggle the DTR line, which on most Arduino boards is connected through a capacitor to the reset line. If your board has an FTDI USB to serial chip on board, it is probably configured this way. Some newer boards do not use a discrete USB to serial chip however, and may need to be reset manually.