It is indeed. Pretty sure Lennon said he wrote it as a lullaby for Julian. Then when they decided to record it, I think it was McCartney who particularly pulled for the super-syrupy, Mantovani style arrangement heard on the tune-- although Lennon might have been involved in that decision, too.'Yes it is' and a John Lennon song for Ringo to sing, I believe.
must be something about us Jersey boys 'cus i did likewise for my daughter.Sang that tune to my little one when she was an infant...she now listens to it regularly when she beds down. It's her official lullaby and I'm sure the tradition will continue when she is old enough to have her own.