Yes. In fact, that is precisely how you are supposed to adjust cam timing, viz., by locking the cams you do not need to adjust in place with pins and locking the crank at TDC firing for cylinder 1, then loosening the hub bolts for the cam you DO want to change and moving it into place with a wrench on the flat, then re-tightening the hub bolts. Make sure to spin the crank around a few times to ensure that all four cams' timing marks appear in the center of the slots in the cam caps.
--Peter
--Peter