I just took delivery of a Motow hitch. My requirements were that it fit both a 1 1/4" AND a 2" hitch. They delivered on that. It's also available now, which can't be said for my original first choice, the Thule Easyfold XT2 which will also fit both hitch sizes. The base carrier of the Motow is about half the price of the Thule, it will support many different wheel sizes, wheel bases, and frame styles. You can chat with them online or on the phone and they may customize it to meet any specific need you might have. I also went with the optional lift which brings the price back into the Thule range, but it's a whole lot easier to mount a 50lb+ bike at ground level and then use a drill (or 15/16 wrench/socket) to lift the carrier back up. The lift is capable of 375lb, the carrier 200lb which is usually the limit on a 1 1/4" hitch anyway.
If you have just the one bike, I would also look at motorcycle carriers and see if they have one for your hitch. Often much cheaper and can carry 400lbs.