The staff on Fox and Friends covered this story yesterday. Thanks for posting!
Indeed it is.
James Cameron, in his movie 'Titanic', worked this photo into the action. This scene is recreated when (the fictional) Jack Dawson sneaks into First Class to see the (equally fictional) Rose. You'll see him clamber over the railing in the background, and swipe the coat that you see draped over the deck chair behind the stanchion.
As a Titanic buff of 40 years or so, I sat bolt upright at that point- I recognized it instantly. :-)