Yes, I think it was just a way for them to touch and be more intimate without having to be sexual. They are just exploring their comfort with each other and need to take baby steps. Notice also, that they try not to look at each other during this moment. It's painfully tender.
Having been a teenage boy, I know their hormones would have kicked in and they would have become easily aroused (even if they were trying NOT to). I wish we had seen that moment where they try to hide their excitement, or shift uncomfortably as they rearrange themselves so as not to be caught, maybe pull their hands away so it didn't go any further... but it was still a beautiful moment.