Absolutely - he was a devout Catholic who came of age in Edwardian times. He was no hipster, "modernist" follower of socialism, but a man who was fascinated by ancient notions of honor and valor. At the end of his life, he was bewildered by the way the hippie movement glommed on to his work the way they did.
Tolkein said that LotR doesn't include political or social commentary. Gandalf is not Jesus, Sauron is not Satan, it's not pro-liberal pro-conservative. It's just a good story. Sit back and read (or watch.)