Yes it can. By default IE always says "Windows Internet Explorer" in the title bar, but you can the title to say anything you want it to.

Note: Make sure you take the precautions and back up your Registry

Go to the Registry key HKEY_CURRENT_USER\Software\Microsoft\Internet Explorer\Main. Create a new REG_SZ (Registry String Value). Modify the value to what ever you want the title to be. Reboot the system.