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ELTO could mean 'Equipment Leased to Others', commonly recorded in a Company's Plant, Property and Equipment account in the Assets of a Balance Sheet
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Elton Medeiros's birth name is Elto Antnio de Medeiros.
The first manufacturer of boat engines in the United States was Evinrude Outboard Motors which was owned by Ole Evinrude and his partner Chris Meyer. Evinrude later formed a company named Elto and a few years later the Johnson Motor Company started also manufacturing in the US. The 3 companies merged to form the Outboard Marine Company. The company name was eventually changed back to Evinrude Outboard Motors and is currently owned by Bombardier Recreational Products.
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