Yes, but you would have way too much wheel well gap. Google "tire size calculator" or something similiar. Generally, if you want a lower profile tire you need bigger diameter wheels to keep your overall wheel/tire combo about the same size. You can fudge it a little by increasing to say a 215 or 225 width (215/60/16 or 225/60/16) depending on the wheel width and suspension, but by doing that you're back to a taller profile again. Confused yet? A 215/55/16 might work.

I think the size you have is really optimal.